bpv GRIGORESCU ȘTEFĂNICĂ has advised the shareholders of Automecanica S.A on the signing of a Share Purchase Agreement with the Turkish automotive and defence leader, Otokar Otomotiv ve Savunma Sanayii A.Ş. (“Otokar”).
The transaction, valued at approximately EUR 85 million, involves the acquisition of 96.77% of the share capital of Automecanica S.A., including its extensive manufacturing facility in Mediaș, Sibiu. Until completion of this transaction, Automecanica is the primary subcontractor and localization partner for Otokar in connection with the RON 4.26 billion (EUR 820 million) contract to supply the Romanian Armed Forces with 1,059 units of light armoured tactical vehicles (ATBTU) in 12 different variants. Completion is subject to customary regulatory approvals, including merger control and FDI clearances, as well as other relevant authorities in the defence and national security sector.
“Assisting the shareholders of Automecanica S.A. in this landmark transaction has been a privilege, as it represents a transformative shift for the Romanian industrial landscape. By integrating Automecanica’s tradition-rich Mediaș facility into Otokar’s global manufacturing network, this deal reflects the current rise in strategic transactions within the European defence industry. We are grateful to the Automecanica team for their trust in our guidance throughout this complex process. Their commitment to excellence has ensured that Romania remains a pivotal hub for NATO-standard defence production for decades to come”, said Anca Albulescu, Partner at bpv GRIGORESCU ȘTEFĂNICĂ.
The team of bpv GRIGORESCU ȘTEFĂNICĂ played a pivotal role throughout the transaction, providing comprehensive legal advice to the shareholders of Automecanica S.A. and working closely with senior advisor Vlad Nastase of Concilium Consulting to ensure the successful signing of the transaction. The entire mandate encompassed assisting the shareholders in the initial due diligence process, advising on the transaction structure, including the initial MoU and negotiating the transaction documents. The team continues to be involved in the ongoing stages of the transaction, supporting the company and the sellers in reaching timely completion.
The bpv GRIGORESCU ȘTEFĂNICĂ team included Anca Albulescu (Partner and Head of Procurement and Defence practices), Cătălin Grigorescu (Managing Partner and Head of Transactions practice), and Laurențiu Lungu (Senior Associate, Real Estate and Defence), with extensive involvement of lawyers from corporate, merger control and FDI, employment, property and regulatory practices.
Automecanica S.A. is a Romanian joint stock company headquartered in Mediaș, Sibiu, and a well-known brand on the international automobile, superstructures, containers and chassis market, with over 75 years of experience.
Otokar, a member of Koç Group, is Türkiye's leading manufacturer of buses for public transportation, of light weight trucks in the commercial vehicles segment, and of a variety of tactical wheeled and tracked armoured vehicles and turret systems for the defence industry.
This transaction further strengthens the firm’s corporate practice, adding to a solid track record of M&A mandates, such as:
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bpv GRIGORESCU STEFANICA is a business law firm with a full-service offering for complex projects and litigation and a unique combination of legal and tax advisory capabilities. The firm is known internationally for its focus on the Technology sector and its prominent practice in areas such as Corporate, Mergers & Acquisitions, Taxation, Employment & Benefits, Procurement, Concessions & PPPs, Medical services, Energy and Infrastructure.
bpv GRIGORESCU ȘTEFĂNICĂ team is continuously included among the most prominent Romanian law firms by prestigious international legal directories such as Chambers & Partners, Legal 500, IFLR1000, ITR World Tax, Media Law International.
bpv GRIGORESCU ȘTEFĂNICĂ is a founding member of bpv Legal, an alliance of independent business law firms with offices in Bratislava, Brussels, Bucharest, Budapest, Prague and Vienna, offering cross-border legal advisory services.
