«Deal of the month
IT UPDATE
What's NewS Issue 5 May 1996
short news
15
The deal: Fokker
Aviation - share
acquisition and
working
capital finance for the
viabie seetions of the
aircraft manufacturen
The players: Kees
Struijk (special credits);
Nico Schrijen (account
management); Jos Pak,
Jan van Besouw and
Jan van Veenendaal of
the legal department;
structured finance's
Sipko Schat and Hem
^lulders; credit
analysts André de la
Combé, Jan van der
Zee, Tinto Bakker and
Ries Boersen; Cees de
Vries, Anke Kootstra
and Jan Siegelaer of the credit
department; secretary Marian
Oostveen; executive support
from Wouter Kolff, Rik van
Slingelandt, Robin Bargntann
and Willem van 't Hooft.
The demise of the Royal
Dutch Aircraft Factory Fokker
was a highly emotional event,
not only for the Netherlands,
but also for people employed
in companies outside this
^ountry which had worked
Blosely with Fokker over time.
'The loss of Fokker was a
major one, both in human and
economie terms,' confirms
Kees Struijk of the bank's
special credits department.
Kees Struijk
'We were looking at a scenario
whereby some 7,000 jobs were
on the line in this country
alone. Fortunately, in spite of
numerous uncertainties
surrounding the continued
existence of Fokker as an
aircraft manufacturer, there
was also an inherent
understanding that at least
some parts of the group
were healthy and viabie.
This is where the bank comes
A trust company was created
in which these healthy Fokker
enterprises could be 'parked'.
'The idea is to bring these
together so that the
shares in these
companies can
subsequently be sold
to new investors,' says
Struijk. 'We, along
with a number of
other banks, were
asked to make a
proposal for financing
this operation as well
as making available
working capital to
achieve it. We
managed to get the
mandate simply
because we put
together the best
proposal.' According
to Struijk, a lot of
people within the
bank, including highly-
skilled and dedicated
analysts, worked very hard
and even through weekends,
on developing the bid. 'While
you always have to look at
this type of deal from a
business perspective, and we
clearly put in the most
competitive bid, I think many
of the people in the team were
perhaps even more than highly
motivated because it was for
Fokker. At the end of the day,
this new structure saved over
2,000 of the jobs that were at
risk in this country. So I'd say
for all of us, there is certainly
an additional "feel good"
factor in winning this
particular bid.'
looking ahead ƒ-
FOKKER May
Na het 05-08
faillissement 08
van Fokker 08-10
werd intensief gezocht naar 09
mogelijkheden om zoveel 20-22
mogelijk onderdelen van het 27-31
bedrijf te laten voortbestaan.
Ze zijn ondergebracht in één
bedrijf, Fokker Aviation. De
^banken werd gevraagd een
"voorstel voor de financiering te
doen. Door de grote inzet van June
de veel medewerkers kreeg de 02-05
Rabobank de deal. 05-08
Treasury managers meeting, Utrecht
Start joint-venture Poland
VIV America Latina, Sao Paulo (Brazil)
China Seminar, Utrecht
World Seed Conference (FIS), Amsterdam
lAMA-Conference, Cancun (Mexico)
Study F&A in Poland
Study World Seed Market
Study Beer Market
General managers meeting, Utrecht
Agromart 96, Ho-Chi-Minh-City (Vietnam)
The March issue of What's
NewS reported that Coopers
Lybrand had been awarded the
mandate for developing a long
term information technology
business plan for the
international Division.The work
on this plan is now complete,
and the ID/IT Steering
Committee is considering the
next steps, including
appointment of program
management to take overall
responsibility for implementing
the plan, and a communication
program involving the foreign
offices.
Head office is currently
working on a remote
implementation of the Devon
derivatives trading system for
the Paris branch.The
implementation is scheduled
for completion in the second
half of May. Parallel to this,
preparations for the planned
implementation of Devon in
Rabobank New York will also be
developed and executed in the
coming weeks.
Rabobank Singapore is on
track for implementation of the
Olympic Project, a system
devoted to supporting private
banking activities.Presently,
definition of the model and
functional testing are
underway. The Olympic system
is expected to go live in
Singapore in early July 1996.
Within Rabobank,a project
has been started to investigate
and ensure that all the
applications and hardware will
be '2000 compliant' by the end
of 1998. It will check that
systems can cope with the date
change of the year 2000 in
order to produce a smooth
transition into the new
millennium.The project is
organized on a Rabobank-wide
basis and its objective is to
include all of the foreign
offices.
