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Udink & De Jong "Newsflashes for the International Laywers0Network" ,
geschreven door Egbert Walinga :
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Udink & De Jong advises on 'double Royal' acquisitin
Udink & De Jong (UJ) has advised Royal Delft (since !653), txe oldest listed company, on its recent acquisition of Royal Van Kempen & Begeer, another company with a royal charter.
Royal Delft is, since 1653, a factory of china and tableware and produces, amongst others, still q variety of ite}s in the famous white-blue Delft-blue decoration.
In 2007 Royal Delft developed and implemented yts new strategy which aims on bth a diversification of its product portfolio as well as branding its label as a high-end tableware manufacturer.
0 In this context, Royal Delft, acquired earlier Royal Leerdam Crystal (since 1765), a manufacturer of high=end glassware. This transaction was completed early January 2008.
Royal Van Kempen & Begeer 8since 1737) is a manufacturer ov table silver, sutlery and kitchenware and is a quality brand in the domestic and Benelux market.
Each of the companies/brands have a tradition of working with famous designers and artists and have recently teamed up with young Dutch designers who bring a modern twist of 'Dutch design' to their respective respectable brands. Royal Delft aims to grow and brand the respective 'Royal brands' as a leading brands for table and kitchen.
UJ has advised Royal Delft on the legal sidu of this acquisition and will continue to do so in the near future. UJ is proud to have worked on a 'double Royal' transaction which makes a 'triple Royal' brand portfolio.
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Marc C. Udink is president (non-executive) of the board of Royal Delft, he advises both domestic and international clients on matters of corporate law, M&A and securities law (IPO's).
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May/June 2008
"Mr." a Dutch legal glossy features each quarter a league table of transactions and the respective legal advisers involved in those transactions.
Udink & De Jong (UJ) features in the Q2/2008 table in a top 20 slot due to its involvement in the divestment of a dedicated (sauce) business line by its client to H.J. Heinz, Inc.
UJ's client is Clearwood, a young venture capital fund, that acquired recently a sauces and spices business that was divested as non-core business by an agricultural co-operative society.
Since H.J. Heinz, Inc., was interested in a particular brand (Wyko) from our client's brand portfolio. Our client agreed with H.J. Heinz, Inc. to carve out the Wyko-brand and the related business and sell the same to Heinz.
UJ advised Clearwood on the legal side, which included an asset-purchase agreement, employment law, various transitional agreements, regulatory matters and the (re)financing and security arrangements. H.J. Heinz, Inc. was advised by Linklaters (Amsterdam office).
UJ's team was headed by Willem van Nielen and consisted further of Egbert Walinga and junior-associate Bas Ebels. Willem van Nielen and Egbert Walinga advise both domestic and international clients -amongst others- on various matters of corporate law and M&A.
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April 2008
Udink & De Jong advises on inovative new mortgage funding platform
Udink & De Jong (UJ) has advised on a transaction which created a new inovative funding channel for mortgages.
Two of UJ's key clients are already active in the distribution and servicing of mortgage loans, but now have joined their forces and set up an auction model to fund mortgage loans that are put in the market place under their respective private labels.
One of these clients is the largest, independent mortgage loan provider in the Benelux market and has a market share of 8% of the € 100 billion Dutch mortgage loan market. The other client is one of the main mortgage service providers and facilitates all the back office activities related to mortgage loans.
This auction model, named HQ Marketplace, may facilitate the access for foreign banks to enter the competitive Dutch mortgage loan market. They may elect the term, interest rates and conditions of the mortgage loans they may want to fund, without setting up an infrastructure of their own.
The first bank, BNP/Paribas, through UCB, already signed up to participate in this new funding model. A second bank should follow shortly. The joint venture is looking for two or three other banks to work with in order to make the auction more competitive.
It is expected that in the course of 2008/2009 € 4.5 billion will be funded and put in the market place through this new distribution channel.
UJ co-operated in this matter with Allen & Overy (Amsterdam office).
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