Navis Capital offers to acquire Adampak at 42 cents each

Private equity firm Navis Capital Partners has made an offer of 42 cents each of all the Adampak shares they do not hold to privatise the subsidiary.

The offer price represents a 22% premium over Adampak’s last traded price of 34.5 cents.

Adampak is the manufacturer of high performance labels, seals and other precision die-cut components.

“The privatisation of Adampak will allow it to save on additional expenses relating to the maintenance of its listing status and focus its resources and capital on business operations,” Navis said.

Navis said its growth strategy may limit or reduce Adampak’s ability to pay out dividends or may have a dilutive effect on shareholders.

Navis has secured irrevocable undertakings representing 52.28% equity stake in Adampak.