The contract between Ford Otosan and the US group's Europe division Ford Capital BV for the takeover of the Romanian Ford factory in Craiova can be completed after the Turkish group, 50% controlled by Ford, got the permit from the Turkish competition authorities. They confirmed that the deal is not subject to local regulations, local Adevarul reported.

The price agreed by the parties was EUR 575 mln plus EUR 140 mln, depending on the future capacity utilisation of the factory.

The agreement sealed by the two parties envisages the phasing off of the Ecosport model this autumn, followed by the launch of two new thermal engine models - Transit Courier and Tourneo Courier - from 2023, as well as three electric vehicles starting 2024: the Ford Puma, Transit Courier and Tourneo Courier.

The sales division of Ford Romania will be separated and will continue carrying out Ford's sales activities in the country after being registered as Ford Romania Services. 

andrei@romania-insider.com

(Photo source: the company)