Wanxiang gets green light to buy A123's assets

Wanxiang won court approval to buy most of the assets of A123 Systems, the failed electric-car battery maker backed with US government funds, for about US$256.6 million.

Bankruptcy Judge Kevin Carey approved the sale, which has raised concern from some lawmakers, at a hearing in Wilmington, Delaware, on Tuesday, saying "the auction was robust, the price is adequate".

via Business feed http://www.scmp.com/business/china-business/article/1103787/wanxiang-gets-green-light-buy-a123s-assets