SIG to take full ownership of joint venture to leverage growth opportunities in the Middle East and Africa
 SIG to acquire the remaining 50% of shares in its Middle East & Africa joint venture
 Enhances global presence in a region with strong growth prospects
 Well-invested footprint (fillers and sleeves production)
 Opportunity to continue to leverage SIG technology to meet evolving consumer needs
 Full control of a business with a very attractive growth and financial profile
 Free cash flow and earnings per share accretive from 2021; leverage broadly unchanged
SIG Combibloc has signed an agreement to take full ownership of its Middle East & Africa joint venture SIG Combibloc Obeikan by acquiring the 50% shareholding of its partner Obeikan Investment Group (OIG) in the two joint venture companies. The completion of the transaction is subject to several customary closing conditions, including Saudi Arabia and certain other antitrust approvals. The acquisition will expand SIG’s global presence and enhance its medium and long term growth outlook.
The transaction is a continuation of SIG’s strategy for expanding its global footprint by entering new geographies. As a full member of the SIG group, the Middle East & Africa (MEA) business will be even better positioned to tap into SIG’s experience in developing consumer-centric and innovative solutions for its customers. SIG Combibloc Obeikan supplies customers in MEA from a full scale manufacturing plant in Riyadh, Saudi Arabia, which will be fully integrated into SIG’s global production network.
To build on the success of the trusted partnership over the last 19 years and to continue to benefit from the strong local presence and expertise of OIG, Abdallah Al Obeikan, Chief Executive Officer of OIG and currently Chief Executive Officer of SIG Combibloc Obeikan, will be nominated for election to SIG’s Board of Directors at the next Annual General Meeting, subject to completion of the acquisition prior to the Annual General Meeting and other customary conditions. Abdelghany Eladib, currently Chief Operating Officer of SIG Combibloc Obeikan, will join SIG’s Group Executive Board as President & General Manager, Middle East & Africa, subject to and as of completion of the acquisition.

About SIG Combibloc
SIG is a leading systems and solutions provider for aseptic carton packaging. We work in partnership with our customers to bring food and beverage products to consumers around the world in a safe, sustainable and affordable way. Our unique technology and outstanding innovation capacity enable us to provide our customers with end-to-end solutions for differentiated products, smarter factories and connected packs, all to address the ever-changing needs of consumers. Sustainability is integral to our business and we are going Way Beyond Good to create a net positive food packaging system.
Founded in 1853, SIG is headquartered in Neuhausen, Switzerland. The skills and experience of our approximately 5,500 employees worldwide enable us to respond quickly and effectively to the needs of our customers in over 60 countries. In 2019, SIG produced 38 billion carton packs and generated €1.8 billion in revenue. SIG has an AA ESG rating by MSCI, an 18.8 (low risk) score by Sustainalytics and a Platinum CSR rating by EcoVadis. For more information, visit www.sig.biz.

About Obeikan Investment Group
Obeikan Investment Group (OIG) is a family-run business, founded in 1982 by the Obeikan family with headquarters in Riyadh. The company has a strong foothold in manufacturing, packaging, education and health care. On top of being a leading provider of fully integrated packaging solutions in the MENA region, OIG had a growing focus on digital transformation providing B2B, B2C and B2G business and industrial solutions.