Board of Pelikan Holding accepts Malaysian parent company’s proposal to integrate subsidiaries into Herlitz.
OPI reported that Switzerland-based stationery firm Pelikan Holding has accepted its parent company, Pelikan International Corporation Bhd’s proposal to integrate “a number of” its subsidiaries into Herlitz, whose assets were acquired by Pelikan Holding in December last year.
In addition to the consolidation of its stationery manufacturing business, Pelikan International proposed to change the name of Herlitz to Pelikan; with the proposals “now in the hands of external consultants before final approval of the board”. Final proposals will be given to shareholders for approval during an “extraordinary general meeting” to take place at an unspecified date.
The Recycler has reported recently on Pelikan International’s plans to list some of its units and assets in Germany; including an asset injection into the company and its 96.45 percent-owned Switzerland unit, Pelikan Holding AG, into Herlitz AG for 1.19 billion ringgit ($375.28 million/€275.63 million). However, the plans failed to impress shareholders, with the company’s shares falling 11.6 percent following the announcement.