The due diligence process for the proposed acquisition of PT Eagle High Plantations (EHP) will be extended to Nov 30, 2015, says Felda Global Ventures (FGV).

“We are continuing to finalise the proposed acquisition to ensure mutual benefit for all our stakeholders and shareholders.

“Official announcements will be made to keep all parties up to date in line with regulatory requirements and corporate governance practices,” FGV said in a statement today.

On June 12 this year, FGV signed a heads of agreement with Rajawali Group to acquire a 37 percent stake in EHP for US$680 million (RM2.93 billion) in cash and stocks.

EHP owns 425,000ha of oil palm plantations, of which 67 percent are in Kalimantan and the rest in Papua New Guinea (9 percent), Sulawesi (19 percent) and Sumatra (5 percent).

- Bernama