Mușat & Asociații provided legal advice to FORVIA, an international automotive group specializing in the production of automotive components and technologies, with an annual revenue of over EUR 26 billion, regarding the legal aspects related to the implementation in Romania of the sale of its Interiors Business Group to the investment fund Apollo Global Management Inc.

The transaction, coordinated internationally by the law firm Baker McKenzie, is subject to the notification of or the consultation with employee representative bodies and to obtaining approvals from regulatory authorities. The transaction is expected to be completed by the end of the year.

In Romania, the transaction had multiple implications - a complex preliminary reorganization of local entities, as well as the transfer (based on a partial spin-off) of certain parts of the business to a new entity, all carried out against an extremely tight deadline. These steps were performed simultaneously with the preparation of the necessary notifications and the obtaining of prior approvals from the competent authorities. Mușat & Asociații, in close collaboration with the client’s representatives, assisted FORVIA in all activities related to Romania, ranging from comprehensive legal due diligence, corporate/M&A, competition/foreign investment, intellectual property, tax, labor, environmental, and regulatory matters, to the structuring and implementation of the local phases of the transaction coordinated internationally by Baker McKenzie.

The team advising FORVIA was led by Andrei Ormenean (Partner), alongside Șirin Stan (Senior Associate) and Alina-Mădălina Pustianu-Pîrvoi (Associate), and included Manuela Lupeanu (Counsel), Roxana Bujoreanu (Senior Tax Manager), Oana Lupu (Managing Associate), Julieta Sfeclă (Managing Associate), and Gabriel Oprea (Senior Associate).

“We are pleased to have partnered with FORVIA on this transaction and to have contributed to such a large-scale project. It was a complex process involving multiple jurisdictions and a wide range of legal challenges, and it provided us with an excellent opportunity to work in an integrated manner. Such mandates highlight Mușat & Asociații’s ability to provide assistance in all aspects of an international transaction, from start to finish, in a practical and coordinated manner”, said Andrei Ormenean, Partner, Mușat & Asociații.

The future closing of this transaction will represent a key milestone in the execution of FORVIA’s IGNITE strategy, and enable the FORVIA Group to sharpen its focus on high value-added, technology-driven activities, while reinforcing its financial structure, particularly through a reduction of net debt of at least EUR 1 billion.

FORVIA Interiors is a global leader, representing approximately 18% of FORVIA’s consolidated revenue (c. EUR 4.8 billion in 2025), with 59 production sites and 8 R&D centers across 19 countries and more than 31,000 employees worldwide. 

The Transaction sets the Interiors Business Group at an enterprise value of EUR 1.82 billion, corresponding to a 3.1 multiple of the EUR 582 million 2025 IFRS Adjusted EBITDA (and a 4.8 multiple excluding R&D capitalization and leases). 

About Mușat & Asociații

The name Mușat & Asociații is synonymous with excellence in the practice of business law in Romania. For over 36 years, Mușat & Asociații has provided advisory services across all sectors of business law, including mergers & acquisitions, privatizations, banking law, energy & natural resources, competition, corporate law, telecommunications & IT, labor law, taxation, capital markets, real estate law, environmental law, and commercial litigation & arbitration.

Mușat & Asociații is recognized as one of the pillars of business law in Romania, and international legal directories regularly recommend the firm as one of the leaders in the legal market, with many of the firm’s attorneys being ranked by these publications as part of the elite of the Romanian business legal community