Wanxiang Wins Bidding for A123 in Latham-Led Bankruptcy Auction

The Chinese auto parts maker is set to acquire the assets of the bankrupt—and onetime government-backed—A123 Systems, which makes lithium-ion batteries for electric cars, after coming up with a winning $256.6 million bid Sunday. Sidley Austin is advising Wanxiang, while Brown Rudnick and Richards, Layton & Finger also landed roles in the sale.

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