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Allen & Overy advised Symbio on a new joint venture with Schaeffler Group

Allen & Overy has advised Symbio, a joint venture between Michelin and Faurecia, on the establishment of a 50:50 joint venture with Schaeffler Group to produce fuel cell bipolar plates.

The joint venture will be located in Haguenau, in the Alsace region, France. It will combine the know-how of leading European automotive suppliers and a global leader in automotive fuel cell technology. This Franco-German partnership will aim at strengthening the European hydrogen mobility value chain. The company, which will be operational under the brand name Innoplate, will accelerate the production of next generation BPP for the entire proton exchange membrane (PEM) fuel cell market.

The joint venture is expected to be established by the end of 2022, subject to customary conditions precedent such as applicable merger control clearances.

The Allen & Overy team was led from Paris by Marc Castagnède (Partner), with Julie Parent (Senior Associate) and Marie Kempf (Associate). The team also included Jens Matthes (Partner) and Anna Kraeling (Senior Associate) from the Allen & Overy office in Düsseldorf on intellectual property and commercial law aspects, Antoine Chatry (Counsel) and Alix Pallier (Senior Associate) on real estate law aspects as well as Roxane Hicheri (Senior Associate) on competition law aspects.