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KUALA LUMPUR (July 8): Stationery maker Pelikan International Corp Bhd has disposed of its logistics centre in Germany for a cash consideration of €81 million (equivalent to RM399.33 million). The group also said part of the disposal proceeds will be used to reward the shareholders through special cash distribution. Pelikan said in a bourse filing today, its subsidiary Pelikan Group GmbH (PGG) had entered into a conditional sale and purchase agreement (SPA) with HE4 Falkensee 1 S.à r.l. and HE4 Falkensee 2 S.à r.l. to dispose of its logistics centre located at Straße der Einheit, Falkensee, Germany. Based on Pelikan’s audited consolidated financial statements for the financial year ended Dec 31, 2020 (FY20), the disposal is expected to realise an estimated one-off gain of RM184.83 million.

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