Ford Otosan (Ford Otomotiv Sanayi A.S.) 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 Busoiu and Alexandru Ontica for financial assistance and by Miruna Enache and Razvan Ungureanu for tax assistance. EY Turkey was coordinated by Alpay Ertekin.
EY30 for Romania
To mark 30 years of continuous activity in Romania, the EY: 30 for Romania program was launched and will run throughout 2022. Projects, personalities, and moments that have marked Romania's progress in 30 years will be brought to the public's attention, collaborative community engagement initiatives will be carried out with EY partners and collaborators.
About EY Romania
EY is one of the world's largest global professional services firms, with 312,250 employees in more than 700 offices in 150 countries and revenues of approximately $40 billion in the fiscal year ending June 30, 2021. Their network is the most integrated globally, and the resources within it help them provide clients with services that enable them to take advantage of opportunities around the world.
Present in Romania since 1992, EY is the market leader in professional services. Its more than 800 employees in Romania and the Republic of Moldova provide integrated audit, tax, legal, strategy, and transaction advisory services to multinational and local companies. We have offices in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau. EY Romania joined in 2014 the only worldwide competition dedicated to entrepreneurs, EY Entrepreneur Of The Year. The winner of the local edition represents Romania in the world finals that take place every year in June in Monte Carlo. The World Entrepreneur Of The Year title is awarded in the global final.
About Ford Otomotiv Sanayi A.S. ("Ford Otosan")
Ford Otomotiv Sanayi A.S. is a publicly traded company (18%) in which Ford Motor Company (41%) and Koç Holding A.S. (41%) hold equal shares. Ford Otosan, being one of the top 3 companies in Turkey in terms of exports, has been the champion of the automotive industry for 11 consecutive years and export champion for 7 years in a row. Ford Otosan exports vehicles and spare parts to 85 countries on 5 continents. Ford Otosan's operations are carried out in 4 different centres: the Golcuk and Yenikoy factories in Kocaeli, the Eskisehir factory in Eskisehir, the Craiova factory in Romania and the Sancaktape R&D centre and the spare parts warehouse in Istanbul. Ford Otosan employs 13,724 people. In terms of market cap, Ford Otosan ranked as the most valuable automotive company and fourth overall among BIST companies by the end of 2021.