JBF Finance has announced a public tender offer for all publicly held shares of Bobst Group.

Switzerland-based JBF is Bobst Group’s largest shareholder and already holds approximately 53% of the shares and voting rights in the company. Its shares are held by more than 60 shareholders who belong to families that descend from Bobst’s founder.

JBF has offered to pay CHF78 (£67.60) 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, which is expected by the end of 2022, JBF is expecting to be able to take Bobst Group private through a delisting of its shares from SIX Swiss Exchange, allowing the company to focus on long-term and sustainable growth.

Bobst has predicted that 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.

The board of directors of Bobst Group, represented by the Committee of Independent Directors, has reviewed the offer and 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.’

Following the conclusion of the transaction, Bobst Group will continue to be managed by independent board members and family board members, as it is today.