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Bondoc si Asociatii Advises on BorgWarner's Phinia Spin-Off Project

Bondoc si Asociatii Advises on BorgWarner's Phinia Spin-Off Project

Romania
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Bondoc si Asociatii, working with Freshfields Bruckhaus Deringer and Foley & Lardner, has advised BorgWarner on the Romanian aspects of the spin-off of its fuel supply systems and spare parts and accessories business into the Phinia company.

According to the firm, both companies are listed on the New York Stock Exchange, and the transaction followed BorgWarner’s strategy to prioritize activities focusing on electric vehicles. The target assets included the fuel systems and aftermarket business segments. "It was a complex process that covered a period of 18 months, 29 jurisdictions, and the transfer of more than 15,000 employees," Bondoc si Asociatii reported.

BorgWarner Inc. is an American automotive and e-mobility supplier headquartered in Auburn Hills, Michigan. Before the spin-off, the company operated 92 production facilities in 24 countries and employed around 52,000 people.

The Bondoc si Asociatii team was led by Managing Partner Lucian Bondoc and included Partners Mihaela Bondoc, Bogdan Bunrau, and Raluca Nadejde, Managing Counsels Daniela Gladunea and Horatiu Dumitru, Senior Associate Oana Dănila, Associates Matei Vilcov, Vasile Soltan, Ionut Lechea, Madalina Arcana, and Junior Associate Rares Iacob.

The firm did not respond to our inquiry on the matter.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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