Deal of the month >i F J unique Unique deal WITH TEMP AGENCY WHAT'S NkwS Issue 11 December 1997 deals 15 Amout van Schelven Alfredo Jiménez-Millas Enrique Buesa Carlos Gómez-Arroyo Jan Quist The cliënt: Bodegas Riojanas S.A. The deal: Bringing 40 percent of Bodegas Riojanas shares to the Spanish stock exchange The players: From Madrid: Arnout van Schelven and Alfredo Jiménez-Millas - ^^eneral managers, Carlos Gómez-Arroyo - commercial director, Fernando Fernandez de Santaella - credit manager, Enrique Buesa - account manager. From Amsterdam: Jan Quist - head of equities, Rabo Securities. shares, a leading company in the country's historie Rioja wine growing region. Following Rabobank advice, the majority 60 percent family shareholder acquired the remaining 40 percent from Spanish Banco Santander - and did a share issue on the Spanish stock exchange. Rabobank Madrid's involvement was unique in two ways. Firstly, the team acted as guarantor to Banco Santander for purchase of the shares by the majority shareholder. Secondly, Rabobank Madrid initiated an IPO for the 40 percent and led the company to the Spanish Stock Exchange. The result was to achieve liquidity for the Bodegas Riojanas shares as a method of financing the company's future growth and a tidy profit for Rabobank. The guarantee to Banco Santander for the sale of the shares, with an agreed payment 6 months following the purchase, was for an amount of NLG 23 million. 'A due diligence was carried (tut by Price Waterhouse,' continues account manager Enrique Buesa. 'Following it, we decided to place the shares in the retail sector, a decision supported by the retail network of our joint venture partner, Banco Popular.' The team then took on responsibility for lead relations with Madrid's Spanish Stock Exchange Commission and Bilbao, the two Spanish markets on which the shares were floated. Net capital gains of the shares totalled an amount of NLG 5.3 million. 'Success was due to our knowledge of the F&A sector. A know-how that led to an extraordinary high demand in the Spanish market - in this case, there was 25 times more demand on the shares than we were able to offer. The winery is one of the best-known names in the sector worldwide, accounting for premium demand from both Spanish and international medium and long term investors. Having Rabobank as sole arranger jointly with Banco Popular also held some weight - through our agribusiness know-how we knew forecasts looked good. And the price was comparatively low compared to other companies listed.' In true networking spirit, Rabo Securities' Jan Quist was also called in for advice and evaluation of the entire structure of the IPO - including managing, placing and investors. Corks were popping in Spain this month as our previous joint venture team Popular Rabobank bottled success with the sale of Bodegas Riojanas CORPORATE BROCHURE Our new corporate brochure is now available and may be ordered from RI Marketing. Please contact Wil van der Tuuk or Shirani van Lenthe on telephone +31 30 216 2804. see us as a mature Dutch equity house, a reliable partner for placing shares with both international and retail investors.' And lastly, following the recent stock market crash, the transaction, it seems, was completed under difficult circumstances. 'We closed just after the Holec issue in Holland was cancelled due to lack of investors,' concludes Van den Brande. 'Because of our strong sales team, headed by Gerbrand Terbruggen, we were still able to successfully place the stock.' All up, a unique deal, indeed. and Almere's general manager Harko Stavasius. Even in the face of stiff competition, Rabo Securities came out on top.' Striding towards success left to right Robert CoedemansHenk Buitenhuis, Marianne Schoemaker, Gerard Boekhoven, Hans van den Brande and Harco Stavasius. Rabo Securities was appointed lead manager and global coördinator for the sale of employment agency Unique International's 4 million shares, generating a sum of more than NLG 210 million. Unique International, a leading temp agency in the Dutch and Belgian markets, is also cliënt of our member bank Almere, who brought in the services of Rabo Securities. Says project leader Hans van den Brande of Rabo Securities: 'To pitch for the deal we formed a high powered team involving representatives from the entire Rabobank network - Rabo Securities, RI managing board member Wouter Kolff BREAKING GROUND The deal was a first for Rabo Securities as this was the first time it had acted as lead manager on such a large scale, global offer. The issue generated interest from Dutch, United Kingdom and American investors. It was also something of a break through in not being agribusiness related, as Van den Brande confirms, 'we never expected to win a pitch in this sector - after all we are a known F&A bank. The fact we won it is a positive sign, the market is beginning to

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blad 'What's news' (EN) | 1997 | | pagina 15