EY Romania’s Strategy and Transactions team working together with EY Turkey, provided Ford Otosan with financial and tax due diligence services and assistance on tax and accounting structuring issues.
Ford Otosan (Ford Otomotiv Sanayi A.Ș) together with Ford Otosan Netherlands B.V. signed on 14 March 2022 the contract for the acquisition of the production facilities of Ford Romania SA, and the financial close occurred on 1 July 2022.
The value of the transaction is EUR 625 million, plus a conditional amount of EUR 140 million in 2028 subject to Romania plant capacity utilization in 2028-2034. The acquisition is part of Ford Otosan’s strategy to become a global automotive manufacturer and to reach a production capacity of more than 900,000 vehicles by 2025. Ford Otosan will produce the next generation van and kombi versions of Courier in Romania and will continue to produce the Ford Puma, Ford’s best-selling passenger car in 2021, with the addition of an all-electric version in 2024.
The Romanian financial, tax and accounting team providing the consulting services on behalf of EY was coordinated by Liliana Bușoiu and Alexandru Onțică for financial assistance and by Miruna Enache and Răzvan Ungureanu for tax assistance. EY Turkey was coordinated by Alpay Ertekin.