Indonesia's Rajawali Group on Tuesday denied that its PT Eagle High Plantations Tbk unit was pursuing legal action over Felda's plan to walk back the US$505.4 million (RM2.07 billion) purchase of a stake in the unit.
"Felda and Rajawali, or any subsidiary of Felda or Rajawali, are not or have never been engaged in any court proceeding," Rajawali said in the statement.
An official last week said that Eagle High had decided to contest Felda's decision to walk back from its purchase of the stake in arbitration.
- Reuters
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