The U.S. government has signed off on the sale of bankrupt A123 Systems (AONEQ.PK -13.3%) to Chinese auto parts maker Wanxiang Group, Wanxiang announces. Some members of Congress had objected to the sale, citing energy security concerns and the $249M grant (not fully released) that A123 had received from Uncle Sam. A U.S. bankruptcy court and creditors have already approved the deal. A123 shares are currently trading at $0.035 on the pink sheets.
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