Successful Merger Clearance of Hydrogen Fuel Cell Joint Venture between Faurecia and Michelin

  • Recent Matters
  • 2019.11.21
In 2019, Yoon & Yang LLC successfully represented Faurecia Exhaust International, a leading global automotive component supplier, in the KFTC’s merger review investigation into its acquisition of a substantial stake in Symbio, the hydrogen fuel cell subsidiary of a leading global tire manufacturer, Manufacture Francaise des Pneumatiques Michelin, which resulted in KFTC’s unconditional approval on November 5, 2019.  Subsequently, on November 21, 2019, the transaction was closed, creating a joint venture in hydrogen fuel cell business with a capitalization of EUR 140 million.  With this transaction, Faurecia and Michelin will be able to strengthen its R&D in hydrogen fuel cell technology and to provide its customers with a broader portfolio of hydrogen fuel cell components.
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