Chinese group Wanxiang has been granted approval by US authorises to buy the civil business of A123 Systems, the Massachusetts-based advanced battery manufacturer, in a deal that has raised concerns about China’s acquisition of strategically significant technologies.
The Committee on Foreign Investment in the US, which reviews takeovers for possible national security implications, has allowed the $257m deal to proceed, Wanxiang said.
The ruling provoked protests from US politicians and lobby groups.
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