Bondoc & Asociatii has reportedly advised Adient on the Romanian aspects of its global sale of its automotive fabrics manufacturing business, including its lamination business, to Sage Automotive Interiors, an Asahi Kasei company.
Originally announced on March 5, 2020, the USD 175 million transaction includes the sale of 11 facilities globally — the majority located in Europe — with approximately 1,300 employees. According to Adient, the fabrics business is expected to generate approximately USD 240 million in revenue in 2020.
Bondoc & Asociatii declined to offer additional comment on the deal.