Dutch private equity company HHBV recently launched a bid for Quebecor World's European division, and has now outlined the details of its proposed bid for Roto Smeets parent RSDB.

In a statement RSDB said that the transaction enables it to take a leading role in the anticipated consolidation of the European print market, a long stated goal of Caris.

It is understood that Caris was the driving force behind the two deals following the rejection of RSDB's bid for Quebecor World Europe in December by the company's shareholders.

The combined company will employ 5,800 people across 40 sites in 11 countries.

The €40 (£31.54) a share offer for RSDB represents a 28% premium on RSDB's average closing share price over the past month and HHBV reports that it has the agreement of all major shareholders to sell their holdings.

Hendrik van den Hombergh, founder and partner of HHBV, said: "We are very excited about this opportunity. This transaction is a further major step in our goal of building a pan-European printing platform."