Forvia confirms the successful progress of its asset disposal program with the entry of stellantis in symbio's capital

Nanterre (france) may 16, 2023 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. this asset disposal program includes two other operations already announced, representing together a cumulated enterprise value of almost €700 million: the sale of faurecia's sas cockpit modules division (assembly and logistics services) to the motherson group, announced on february 19, is currently subject to regulatory approvals and the closing is expected early q3 2023.
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