The proceeds from the sale is 37% higher than Pelikan’s current market capitalisation at RM250mil.
In a filing with Bursa Malaysia yesterday, Pelikan said it entered into a conditional sale and purchase agreement to sell its warehouse in Germany, including an office to HWE Investor GP S.à r.l, which is part of the Hillwood Group headquartered in Dallas, Texas.
The Hillwood Group is a developer of industrial, commercial and residential real estate and has its primary operations in the United States of America and international operations in the United Kingdom, Germany and Poland.
Pelikan had bought the logistics centre in 2010 together with a 66% stake in a Germany-based Herlitz for about €45mil (RM221.85mil).It is expected to realise an estimated one-off gain of RM184.83mil from the asset sale.
(PICB) is selling its German logistics centre in Falkensee for 81mil euros or RM399.33mil which will see it realise a one-off gain of RM184.83mil, confirming a StarBiz story about the stationery maker selling some of its assets overseas.
In a filing with Bursa Malaysia on Thursday, the stationery manufacturer said it was selling the warehouse including an office to HWE Investor GP S.à r.l. which is part of the Hillwood Group headquartered in Dallas, Texas.
The Hillwood Group is a developer of industrial, commercial and residential real estate and has its primary operations in the United States of America and international operations in the United Kingdom, Germany and Poland
The Dallas skyline gets a shapely boost
The Dallas skyline gets a shapely boost
Architecture critic Mark Lamster says new and remade towers bring welcome life and some good design to downtown
6:00 AM on Jun 10, 2021 CDT
I’ve never put much faith in futurism (the last thing this city needs is flying cars) so I will admit to finding some pleasure in the irony that, over the last year, as pundits were busy opining on the grim post-pandemic future of the city (generally) and the skyscraper (in particular), Dallas managed to resolve three of its longest-standing development challenges, all of them involving towers in the downtown core.