Sidley advised Wanxiang America Corporation in its $256.6 million purchase of the majority of the assets of lithium-ion battery maker A123 Systems. Sidley partners John Box and Bojan Guzina, and associates Sha Hua, Andy O’Neill and Anna Remis in Chicago, led the deal team.
The team also included partners Howard Stanislawski and Lisa Crosby in Washington, D.C.; partners Asi Kirmayer and John Lavelle, and associate Robbie Scheininger in New York; partner Glenn Nash in Palo Alto; partner Gary Kaplan in San Francisco; and partners T.J. Gordon and Marc Raven in Chicago. Sidley provided counsel to Wanxiang in several key areas, including the furnishing of post-petition (DIP) financing to A123, structuring the Wanxiang bid to address national security concerns, and navigation and coordination of the bankruptcy sale and CFIUS approval processes.
