article thumbnail

A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). The financing supplements the pre-petition $22.5 Li-ion maker A123 Systems, Inc.

Financing 225
article thumbnail

Osum Oil Sands closes $500M private placement; new investors include government of Singapore

Green Car Congress

The financing was led by a combination of new and existing shareholders. Funding is expected to occur on or about 18 January 2012 subject to satisfaction of customary conditions. In anticipation of regulatory approval, the Company continues to advance its detailed and long-lead engineering with completion expected in 2012.

Oil-Sands 210
article thumbnail

Rockwood Holdings to acquire Talison Lithium for C$724M

Green Car Congress

Rockwood intends to finance the acquisition using existing cash on its balance sheet and new debt financing. Lazard is acting as exclusive financial advisor to Rockwood, and Gilbert & Tobin is acting as Rockwood’s legal counsel. —Seifi Ghasemi, Chairman and CEO of Rockwood.

Financing 218
article thumbnail

Summary of decisions from Durban climate conference

Green Car Congress

Governments at the COP17 meeting decided to adopt some form of a universal legal agreement on climate change as soon. Parties to this second period will turn their economy-wide targets into quantified emission limitation or reduction objectives and submit them for review by 1 May 2012. as possible, but not later than 2015.

Climate 294
article thumbnail

California ARB fines Ford $2.96 million for sales of non-compliant On-Board Diagnostic systems in California

Green Car Congress

million, $740,000 will go to the California Pollution Control Financing Authority (CPCFA), which provides financial assistance to projects aimed at reducing pollution and waste and encouraging the use of renewable energy.

article thumbnail

Avis Budget group to acquire car-sharing company Zipcar in cash deal for approximately $500 million

Green Car Congress

per share in cash, a 49% premium over the closing price on 31 December 2012, representing a total transaction value of approximately $500 million. Citigroup is acting as financial advisor, and Kirkland & Ellis LLP is acting as legal counsel, to Avis Budget Group. Rental car company Avis Budget Group, Inc. Source: Avis Budget.

Companies 218
article thumbnail

President’s Budget for FY 2013 boosts discretionary funds for DOE, cuts fossil fuel subsidies

Green Car Congress

increase above the 2012 enacted. Total outlays for FY 2013 are estimated to be $34,963 billion, compared to the estimated $40,561 billion in outlays for FY 2012. priorities in clean energy and advanced manufacturing, through grants, financing assistance, and tax incentives that accelerate fundamental. These funds are.

2013 261