Public tender offer for Bobst Group SA by its largest shareholder, JBF Finance SA

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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. The pre-announcement of the offer is available at https://investors.bobst.com/tenderoffer/. The offer prospectus is expected to be published on the same website page, on or around 5 September 2022.

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.

 

Expected Timeline

5 September 2022                            Publication of offer prospectus,

including the report of the Board of Directors.

20 September to 3 October 2022      Main offer period.

10 October to 21 October 2022         Additional acceptance period.

Beginning of November 2022           Offer settlement.