In a news we shared with you a few months ago, Ford from Otosan Ford buys Romania we talked about† Today it has been announced that there is a new development regarding this event. The official statement states the agreement regarding the purchase of all shares of Ford Romania by Ford Otosan Netherlands the conditions are met announced.

According to Ford Otosan’s statements, one of the things included in the preconditions is the purchase. Payment of the first installment of 406 million euros† This is where the payment is made and thus the first stage of the purchase. completed expressed.

The factory will produce 272,000 pieces annually!

In the statement to the Public Disclosure Platform (KAP), the annual plant in Romania 272 thousand units It was said that the car production will be made. About 100,000 of the annual production will be the next-generation Courier. The same factory will also produce up to 189,000 Pumas annually. Ford Otosan, to complete the deal until 2028, including interest. 625 to 765 million euros will pay.

Ford Otosan’s statement on KAP is as follows:

Following our announcement of 4.03.22022, the terms and conditions specified in the Share Purchase Agreement with respect to the purchase of all Ford Romania shares by Ford Otosan Netherlands BV have been completed.

The first tranche of the purchase price has been calculated at EUR 406 million, after adjusting the net working capital, net debt and investment amount for the New Generation Courier project, based on the estimated financial statements as at 30.06.2022, and the amounts the reconciliation of the annual accounts dated 30.06.2022 until the end of the year. Final price adjustment will be made accordingly.

In this context, the transfer process was completed with the payment of the first installment of EUR 406 million by Ford Otosan Nederland BV using the emission premium paid to Ford Otosan Nederland BV. In addition, in accordance with the decision passed with the approval of all members of the Board of Directors, in addition to manufacturing and supply and spare parts supply agreements with Ford Romania SRL, Ford Motor Company and related Ford Group companies for Courier, Puma and EcoSport models and engines, as well as technology related to the products in question and production license agreements were signed. Under these agreements, Craiova Factory’s vehicle production capacity will increase to a total of 272 thousand units per year. The production capacity of the engine was determined as 350 thousand units. In addition, under supply agreements, it is foreseen that 490 million euros in investment and engineering expenditure will be incurred over the next three years for the production of the Next Generation Courier, which will start in 2023.

It is envisioned that a significant portion of the vehicles to be manufactured will be sold to Ford Motor Company or its affiliates, at cost plus method of sale, and the investment cost will be transferred to Ford Motor Company through sale.

In accordance with II.17-1 Corporate Governance Communiqué (“Communiqué”) of the Capital Markets Board, the ratio between the amount of ordinary and rolling transactions to be realized within a reporting period under the said contracts and the annual amount of income in sales transactions is more than 10% As the rate is forecast to reach this ratio, information on the report prepared in accordance with the transaction terms communiqué and their comparison with market conditions will be disclosed separately.