Malaysia’s Felda Group plans to buy 37 percent in PT Eagle High Plantations Tbk, the plantation unit of Indonesian conglomerate Rajawali Group, in a restructured deal, Rajawali’s managing director told Reuters today.

Under the new deal, Kuala Lumpur-listed Felda Global Ventures Holdings Bhd (FGV) may take less than 10 percent in Eagle High, with the remaining stake bought by Felda Investment, a unit of Felda Group, said Rajawali’s Darjoto Setyawan.

The companies are “finalising” the price, Setyawan said.

Last month, FGV said it needed to rethink its planned purchase of 37 percent of Eagle High for US$680 million (RM2.89 billion) after its shareholders criticised the deal as too expensive.

FGV did not provide immediate comment.

- Reuters