Brief: Faurecia to get 150 mln euros from Stellantis' acquisition of stake in Faurecia/Michelin's joint venture Symbio
16/05/2023 07:15
May 16 (Reuters) - Faurecia EPED.PA /FORVIA:
* FORVIA CONFIRMS THE SUCCESSFUL PROGRESS OF ITS ASSET
DISPOSAL
PROGRAM WITH THE ENTRY OF STELLANTIS IN SYMBIO'S CAPITAL
* With the acquisition by STELLANTIS of a stake in SYMBIO (a
joint
venture between Faurecia and MICHELIN), confirmed this morning
in a joint press release by the three partners, Faurecia will
receive a total amount of €150 million which will contribute to
its €1 billion asset disposal program by the end of 2023.
* FORVIA confirms it will deliver its €1 billion asset
disposal
program by the end of 2023.
Source text for Eikon: ID:nGNE5Q9k8b
Further company coverage: EPED.PA
(Reporting by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com;))