Deals
Fisker Wins Approval to Sell Assets to China’s Wanxiang
This article is for subscribers only.
Fisker Automotive Holdings Inc. won court approval to sell its assets to China’s Wanxiang Group Corp. for an offer valued at $149.2 million, almost six times what the hybrid-car maker sought when it filed for bankruptcy.
The outcome of last week’s auction “shows that a fair process is a good thing,” U.S. Bankruptcy Judge Kevin Gross said today at a hearing in Wilmington, Delaware.