Deals
Chinese Company May Still Pursue A123 After Bankruptcy Filing
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The Chinese auto-parts maker that previously bailed out A123 Systems Inc., the U.S. electric-car battery maker that filed for bankruptcy protection this week, said it’s still interested in taking over the company.
The bankruptcy filing may turn A123 into a more attractive investment because the court proceedings would clear out legal risks, Ni Pin, president of Wanxiang Group Corp.’s U.S. operations, said in a phone interview yesterday. The automotive business assets that A123 announced this week it would sell to Johnson Controls Inc. are separate from what Wanxiang had targeted, Ni said.