Market Overview

A123 Systems to Sell Substantially All Assets to Wanxiang

A123 Systems (OTC: AONEQ) today announced that it has reached agreement on the terms
of an asset purchase agreement with Wanxiang America Corporation
(“Wanxiang”) through which Wanxiang would acquire substantially all of
A123's assets for $256.6 million. The agreement was reached following an
auction conducted under the supervision of the United States Bankruptcy
Court for the District of Delaware (the “Court”). A hearing at which
A123 and Wanxiang will seek the required Court approval of the sale is
scheduled for Tuesday, December 11, 2012.

According to the terms of the asset purchase agreement, Wanxiang would
acquire A123's automotive, grid

See full press release

Posted-In: News Guidance Contracts Asset Sales Management Global

 

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