13/11/2019 (Agence Europe) – On Wednesday 13 November, the European Commission approved the acquisition of joint control of Symbio by Faurecia Exhaust International and Spika, based in France. Symbio supplies hydrogen fuel cell systems for the automotive sector and is controlled exclusively by Michelin. Faurecia Exhaust International is under the exclusive indirect control of Peugeot SA (France). Faurecia manufactures hydrogen storage systems in particular. Spika is a wholly owned subsidiary of Michelin. The Commission concluded that the acquisition would not raise competition concerns, given its very limited impact on the market structure, in particular PSA’s lack of sufficient market power in passenger cars and light commercial vehicles. In addition, as Symbio is already part of the Michelin group, the transaction will not lead to any change in terms of the overlap between Symbio’s and Michelin’s activities. (LC)