More on A123 (AONE -72.8%) bankruptcy protection: A123 agrees to sell auto business assets to...

|About: A123 Systems, Inc. (AONEQ)|By:, SA News Editor

More on A123 (AONE -72.8%) bankruptcy protection: A123 agrees to sell auto business assets to Johnson Controls (JCI +0.4%) for $125M, including tech, products, customer contracts and facilities. JCI will provide A123 with $72.5M in financing to support its continued ops, and will license back certain tech for the company's grid, commercial, government and other ops, for which it has received interest. A123's financing deal with China's Wanxiang Group is off. (PR)