Automaker Stellantis to buy 33.3% stake in fuel-cell system maker Symbio

(Reuters) - Automaker Stellantis has signed a deal with France's Faurecia and Michelin to buy a 33.3% stake in their Symbio joint venture, a fuel cell system maker for hydrogen mobility, the three companies said on Tuesday.

"Acquiring an equal stake in Symbio will bolster our leadership position in hydrogen-powered vehicles by supporting our fuel cell van production in France," said Stellantis Chief Executive Carlos Tavares.

Faurecia will raise 150 million euros ($165.12 million) from the deal, its parent company Forvia said in a separate statement.

Following the binding deal, whose closing is expected by the third quarter, Faurecia and Michelin will remain Symbio's shareholders with a 33.3% stake each.

The three groups entered exclusive talks about the potential deal in December last year.

Stellantis, the world third-largest carmaker by sales, launched hydrogen-powered mid-size vans late last year and aims to expand its hydrogen offer to large vans in Europe in 2024 and in the U.S. in 2025.

($1 = 0.9084 euros)

(Reporting by Federica Urso and Romolo Tosiani, Editing by Bernadette Baum)