Bobst Group’s largest shareholder JBF Finance has announced a tender offer to purchase all remaining Bobst shares.
This would effectively return the company to private ownership. JBF already holds approximately 53 per cent of the company’s shares and voting rights. It says the offer will give the company the appropriate conditions to deploy a long-term strategy. In addition, it can execute its digital transformation and maintain its strong Swiss industrial activities.
JBF has announced that it will pay a premium of 22 per cent, compared to the average price of the last four weeks, for the shares. The offer is not subject to substantial conditions.
Following completion of the offer, JBF expects to be able to take Bobst Group private through a delisting of its shares. It says this will allow the company to focus on long-term and sustainable growth.
Print & Pack supplies Bobst solutions in Australia and New Zealand.
Transaction highlights include:
Bobst Group continues to be managed by independent board members and family board members, as it is today
Bobst Group will enjoy the best possible conditions to transform the business into a digitised, connected and sustainable packaging supply chain.
JBF is committed to the long-term legacy of the fifth generation of families and to sustaining the industrial base of Switzerland.
Shareholders have the opportunity to realise their investment at an attractive price.
The Board of Directors of Bobst Group, represented by the Committee of Independent Directors, has reviewed the Offer. The Board is convinced of the business rationale of the transaction. Also, it welcomes the possibility for shareholders to tender their shares at a premium in these uncertain times.
