SIG Combibloc to acquire the remaining 50% stake in their Middle East & Africa joint venture with Obeikan Investment Group for €400m.

SIG Combibloc, a systems and solutions provider for aseptic carton packaging, agreed to acquire the remaining 50% stake in their Middle East & Africa joint venture with Obeikan Investment Group, a family-run manufacturing, packaging, education and health care comapny, for €400m ($475m). “This is a unique opportunity to acquire a high quality asset which we know very well. SIG Combibloc Obeikan is a leading player in meeting the growing demand for aseptic cartons in MEA and will be an additional driver of growth in our portfolio. Acquiring full ownership of the joint venture demonstrates our strong commitment to further expanding the business in the Middle East and Africa,” Rolf Stangl, SIG Chief Executive Officer.