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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

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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.

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