JBF Finance is Bobst Group’s largest stakeholder and already owns approximately 53% of the shares and voting rights in the company
The Competence Center facility for flexible packaging technologies adjoining the production plant of Bobst Italia, in San Giorgio Monferrato, Italy. (Credit: BOBST)
Swiss investment management firm JBF Finance has unveiled the public tender offer for all publicly held shares of Swiss packaging equipment supplier Bobst Group.
JBF Finance is Bobst Group’s largest stakeholder and already owns approximately 53% of the shares and voting rights in the company.
JBF has stated that it would pay CHF78 ($80.8) in cash per share of the Bobst Group, representing a premium of 22% compared to the average price of the last four weeks.
Bobst Group said that there are no significant conditions attached to the offer.
Upon completion of the offer, JBF anticipates being able to take Bobst Group private by delisting its shares from the SIX Swiss Exchange, allowing the business to concentrate on long-term, sustainable growth.
The offer will provide the firm with the suitable circumstances to implement its digital transformation, launch a long-term plan, and sustain its strong Swiss industrial activities.
According to the terms of the deal, the independent and family board members continue to lead the Bobst Group and the firm will transform the business into a digitised, connected and sustainable packaging supply chain.
The transaction highlights also include that shareholders have the chance to profit from their investment at a favourable rate.
After reviewing the offer, the Bobst Group board of directors, represented by the Committee of Independent Directors, is confident in the transaction and appreciated the opportunity for shareholders to tender their shares at a premium during uncertain times.
Founded in 1890, Bobst is a supplier of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated industries.
The company is present in more than 50 countries, runs 19 production facilities in 11 countries and employs more than 5,800 people around the world.