French electrolyser firm McPhy faces partial asset sale and liquidation
Struggling French electrolyser maker McPhy Energy has confirmed that it is moving towards a court-supervised partial sale of assets, followed by a judicial liquidation of the remaining green hydrogen business.
The company on Wednesday (14 May) said it had not received any investment or acquisition proposals that would allow it to continue as a solvent going concern, following the launch of a conciliation procedure in April.
When that procedure launched, McPhy also initiated a parallel call for takeover bids. The deadline for submitting bids has now passed, with no viable offers received.
In a statement, the company said it expects a partial takeover of its activities and assets to proceed. With no solvent rescue bids received, the rest of the company would be placed into judicial liquidation.
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