ORG Technology to sell majority stake in Belgian subsidiary to Rexam

ORG Technology, through its subsidiary Benepack Hong Kong Limited, has signed an agreement to sell an 80% equity stake in Benepack Belgium N.V. to Rexam Limited. The overall enterprise value of Benepack Belgium N.V. is €138 million, with the basic consideration for the 80% stake being €110.4 million. The final transaction amount, subject to adjustments based on cash, debt, and working capital at the closing date, is projected to be between €50 million and €60 million. The transaction is expected to generate an investment gain exceeding 10% of the company's most recent audited net profit.

The board of directors approved the transaction on August 8, 2025, after which Benepack Belgium N.V. will no longer be consolidated into ORG Technology's financial statements. Rexam Limited, a subsidiary of the U.S. metal packaging company Ball Corporation, will acquire the majority ownership. This divestment aligns with ORG Technology's strategy to optimize its asset structure, improve operational efficiency, and reduce management costs.

Benepack Belgium N.V., established in 2019, specializes in the production and sale of two-piece metal packaging containers. For the first half of 2025, it reported operating revenue of €5,389 million, net profit of €493 million, and total assets of €19,716 million.