(Corrects first paragraph to clarify Felda has agreed to
purchase Eagle High stake, not has acquired)
KUALA LUMPUR Dec 23 Malaysia's Federal Land
Development Authority (Felda) has agreed to purchase a 37
percent equity interest in Rajawali Group's PT Eagle High
Plantations Tbk, one of Indonesia's largest palm oil
companies, for $505.4 million.
In a statement, Felda said the acquisition will mean it will
have access to more than 320,000 hectares of land in Indonesia,
including more than 125,000 hectares of existing plantations.
The acquisition will also help Felda and its associate
companies make further inroads into the lucrative and expanding
domestic market in Indonesia, it said.
(Reporting by Liz Lee; Editing by Christian Schmollinger and