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The Unknown Chinese Billionaire Who Just Bought A123

Lu Guanqiu of WanxiangChinese Wanxiang just won the auction for A123's assets for $260M. A couple of factoids that should catch your attention:

- Wanxiang was founded by Lu Guanqiu, who is the richest person in Zhejiang at $2.6B. He is virtually unknown in the West today. But this is a situation that is becoming common. A Chinese billionaire the West is basically unaware of snapping up US assets. Recall Wanda's recent purchase of AMC Theatres.

- Wanxiang offered $450M for A123 earlier this year.

- Wanxiang is still virtually unknown in the West. At this time there is not even a wikipedia entry for them.

Bloomberg article is here.