Public tender offer for Bobst Group SA by its largest shareholder, JBF Finance SA.
JBF Finance SA, Buchillon, Switzerland (“JBF”) has announced a public tender offer for all publicly held shares of Bobst Group SA. JBF is Bobst Group’s largest shareholder and already holds approximately 53% of the shares and voting rights in the company.
JBF has announced that it will pay CHF 78 – in cash per Bobst Group share, which represents a premium of 22% compared to the average price of the last four weeks. 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 from SIX Swiss Exchange to allow the company to focus on long-term and sustainable growth.
This offer will give the company the appropriate conditions to deploy a long-term strategy, to execute its digital transformation, and to maintain its strong Swiss industrial activities.
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 digitized, connected and sustainable packaging supply chain;
- JBF is committed to the long-term legacy of the 5th generation of families and to sustaining the industrial base of Switzerland;
- Shareholders have the opportunity to realize their investment at an attractive price.
The Board of Directors of Bobst Group, represented by the Committee of Independent Directors, has reviewed the Offer, is convinced of the business rationale of the transaction and welcomes the possibility for shareholders to tender their shares at a premium in these uncertain times.
JBF Finance SA, Buchillon, Switzerland, is the largest shareholder of Bobst Group SA. Its shares are held by more than 60 shareholders who belong to families that descend from BOBST’s founder.
Bobst is one of the world’s leading suppliers of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated industries.
Founded in 1890 by Joseph Bobst in Lausanne, Switzerland, BOBST has a presence in more than 50 countries, runs 19 production facilities in 11 countries and employs more than 5 800 people around the world. The firm recorded a consolidated turnover of CHF 1.563 billion for the year ended December 31, 2021.