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Chinese auto parts manufacturer Wanxiang Group agreed to purchase battery maker A123 Systems for $256.6 million Sunday, pending approval from U.S. bankruptcy court and the federal government. A123 makes lithium ion batteries and storage systems for the utility and transportation sectors. The deal ends an ownership roller coaster for the Waltham, Massachusetts-based A123 that began…
North American companies are raising both cash and controversy recently in deals with Chinese firms: both American battery maker A123 and Canadian oil and gas firm Nexen have made headlines in recent weeks as some U.S. politicians question the transactions on the basis of national security. China has been ramping up foreign investment in energy…
