Faurecia: Stellantis takes stake in Symbio
(CercleFinance.com) - Faurecia has announced that Stellantis has acquired a stake in Symbio, its zero-emission hydrogen mobility joint venture with Michelin.
This amount will contribute to its E1bn asset disposal program by end-2023, which includes two other transactions already announced and together representing a cumulative enterprise value of nearly E700m.
With these three transactions in addition to the two that have already ceen completed, Faurecia confirms that it will complete its divestment program by the year end. These disposals will contribute to the reduction of its net debt, its top priority.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
This amount will contribute to its E1bn asset disposal program by end-2023, which includes two other transactions already announced and together representing a cumulative enterprise value of nearly E700m.
With these three transactions in addition to the two that have already ceen completed, Faurecia confirms that it will complete its divestment program by the year end. These disposals will contribute to the reduction of its net debt, its top priority.
Copyright (c) 2023 CercleFinance.com. All rights reserved.