Brief: Ford Otosan Says Ford Otosan, Ford Otosan Netherlands, Ford Motor Company And Ford Capital B.V. Signs Share Purchase Agreement For Transfer Of Ford Romania Shares And 1 Share Owned By FMC

Ford Otomotiv Sanayi AS

14/03/2022 08:12

March 14 (Reuters) - Ford Otomotiv Sanayi AS  FROTO.IS :
    * FORD OTOSAN - FORD OTOSAN, FORD OTOSAN NETHERLANDS, FORD
MOTOR
COMPANY AND FORD CAPITAL B.V. SIGNS SHARE PURCHASE AGREEMENT FOR
TRANSFER OF FORD ROMANIA SHARES OWNED 99.99% BY FORD CAPITAL BV
AND 1 SHARE OWNED BY FORD MOTOR COMPANY (FMC)
    * FORD OTOSAN TO PAY EUR 575 MILLION FOR PURCHASE OF ALL
SHARES
BETWEEN 2022 AND 2028
    * FORD OTOSAN - PARTIES TARGET COMPLETION DATE OF THE
TRANSACTION
WITHIN THIRD QUARTER OF 2022
    * FORD OTOSAN TO PAY CONDITIONAL AMOUNT OF EUR 140 MILLION
IN 2028
SUBJECT TO ROMANIA PLANT CAPACITY UTILIZATION IN 2028-2034
    * FORD OTOSAN - UPON COMPLETION OF INVESTMENTS IN THE
EARLIER
ANNOUNCEMENT (DECEMBER 4TH 2020), WHICH INDICATED CAPACITY
INCREASE TO 650,000, CAPACITY WILL FURTHER INCREASE TO MORE THAN
900,000
    * FORD OTOSAN SAYS EMPLOYMENT TO INCREASE TO MORE THAN
20,000
EMPLOYEES

Source text for Eikon:  ID:nIKA5N4YQN 
Further company coverage:  FROTO.IS 

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