SIG Group AG
SIG Combibloc Group AG: SIG takes full ownership of joint venture in Middle East and Africa
SIG Combibloc Group AG / Key word(s): Mergers & Acquisitions MEDIA RELEASE 26 February 2021 SIG takes full ownership of joint venture in Middle East and Africa SIG today announced the successful completion of the transaction to acquire the remaining 50% in its Middle East and Africa (MEA) joint venture, SIG Combibloc Obeikan, from its partner Obeikan Investment Group (OIG). The business in MEA will be fully consolidated by SIG from end-February 2021 and will be reported as a separate segment. The acquisition will expand SIG’s global presence and give direct access to the growing markets of the MEA region. As previously announced, Abdelghany Eladib, currently Chief Operating Officer of SIG Combibloc Obeikan, joins SIG’s Group Executive Board as President & General Manager, Middle East & Africa with completion of the transaction. Samuel Sigrist, Chief Executive Officer of SIG, said: “We are delighted to welcome SIG Combibloc Obeikan as a full member of the SIG family and are looking forward to pursuing additional growth opportunities together. The strong MEA footprint built over the years will be further strengthened Investor contact: Jennifer Gough +41 52 543 1229 Media contact: Lemongrass Communications
About SIG 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 2020, 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. Additional features: File: SIG completetd JV transaction End of ad hoc announcement |
Language: | English |
Company: | SIG Combibloc Group AG |
Laufengasse 18 | |
8212 Neuhausen am Rheinfall | |
Switzerland | |
Phone: | +41 52 674 61 11 |
Fax: | +41 52 674 65 56 |
E-mail: | info@sig.biz |
Internet: | www.sig.biz |
ISIN: | CH0435377954 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1171308 |
End of Announcement | EQS Group News Service |