Michelin: Stellantis to take stake in Symbio

(CercleFinance.com) - Faurecia, Michelin and Stellantis announce that they have entered into exclusive negotiations for Stellantis to acquire a stake in Symbio, the leader in zero-emission hydrogen mobility, alongside its existing shareholders Faurecia and Michelin.


Stellantis' entry into Symbio's capital would strengthen our conviction in hydrogen fuel cells and would enable us to accelerate the tremendous industrial momentum we have created with Faurecia, Michelin said.

The closing of the transaction, which will help Symbio to accelerate its development, is expected to take place in H1 2023 and will be subject to the usual conditions precedent, including regulatory approvals.

At noon today, Michelin shares are up 2.8%, faring better than Stellantis (+0.2%), although worse than Faurecia (3.8%).


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