Pelikan to dispose of core business to France's Holdham for RM695mil

KUALA LUMPUR: Pelikan International Corp Bhd (PICB) and its subsidiaries have agreed to dispose of Pelikan Group GMBH (PGG) to Holdham SAS for €136mil (about RM695.44mil), which will see the group exit from its core stationery business.

Following the disposal, the company plans for the bulk of the proceeds to be returned to shareholders via a proposed distribution.