Advestra advises SIG Combibloc on the acquisition of its Middle East joint venture companies

SIG Com­bib­loc, a lead­ing sys­tems and solu­tions pro­vider for aseptic car­ton pack­aging, acquired the remain­ing 50% in its Middle East and Africa joint ven­tures, SIG Com­bib­loc Obeik­an, from its JV part­ner Obeik­an Invest­ment Group (OIG). The trans­ac­tion was fun­ded through a com­bin­a­tion of newly issued SIG shares (from author­ised share cap­it­al) and avail­able cash bal­ances and cred­it facil­it­ies. OIG received around 17.5 mil­lion SIG shares, equi­val­ent to a stake of approx­im­ately 5% of SIG’s share cap­it­al, and a cash con­sid­er­a­tion of €167 mil­lion for its 50% stake in SIG Com­bib­loc Obeik­an. Fur­ther­more, as part of the deal, Abdal­lah Al Obeik­an, Chief Exec­ut­ive Officer of OIG and former Chief Exec­ut­ive Officer of SIG Com­bib­loc Obeik­an, has been nom­in­ated for elec­tion to SIG’s Board of Dir­ect­ors at the upcom­ing Annu­al Gen­er­al Meet­ing. The trans­ac­tion was sub­ject to clear­ance by vari­ous anti­trust authorities.

Advestra acted as Swiss leg­al coun­sel to SIG Com­bib­loc in the trans­ac­tion. The team included Sandro Fehl­mann, Thomas Reut­ter and Annina Ham­mer (all Cor­por­ate | M&A and Cap­it­al Markets)