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17.12 10:37:50

Pelikan closes in on Herlitz acquisition - Germany

Pelikan International aims to conclude the acquisition of Herlitz AG in the next three months, according to Bernama.

 

President and CEO Loo Hooi Keat said Pelikan has received the green light from its shareholders to undertake the acquisition. "The takeover is now awaiting merger control clearance from the Federal Cartel Office of Germany", he told reporters after the company's extraordinary general meeting convened to seek shareholders' consent to acquire Herlitz.

 

Loo said the acquisition would provide a platform for Pelikan to strengthen its position as one of the market leaders in the stationery and paper industry.

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