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Tesla loses Head of Legal who oversaw internal purchasing probe

Teslarati

Tesla has lost its Head of Legal, David Searle, who reportedly left his position at the automaker less than a month ago. Searle oversaw an internal purchasing probe during his final days at the company before leaving. Several employees were reportedly terminated due to the purchase. Eskin has been with Tesla since 2017.

Legal 93
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General Motors to Move from Long-Running Detroit HQ Into a New Location Across Town

The Truth About Cars

General Motors recently announced a move from the Renaissance Center (RenCen), the building it purchased in 1996, to a new location at the Hudson’s Detroit building further north. He did say that GM’s executives and corporate offices, including finance, legal, and other departments would make the move.

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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 Earlier post.).

Financing 225
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Energy Conversion Devices files Chapter 11, seeks sale of businesses; Ovonic Battery Company sold to BASF Corporation

Green Car Congress

OBC), to BASF Corporation for the gross purchase price of $58 million in cash before transaction fees, minority participations, and working capital and other adjustments. Ovonyx is a joint venture with its co-founder Tyler Lowrey and its shareholders include Intel Corporation. Earlier post.) Chapter 7 for SIT.

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Elon Musk, Twitter reach agreement for sale of social media platform

Teslarati

The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022 , which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.” There are no financing conditions to the closing of the transaction. Musk has secured $25.5 Morgan, and Allen & Co.,

For Sale 144
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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. million callable common share purchase warrants, each exercisable into one common share at any time without conditions by Osum, at a price of $12.50 Stikeman Elliot LLP acted as legal counsel to the KERN led shareholder group. Scotia Waterous Inc.

Oil-Sands 210
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Avis Budget group to acquire car-sharing company Zipcar in cash deal for approximately $500 million

Green Car Congress

In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar’s public-company costs. The companies expect substantial synergies in fleet utilization. Source: Avis Budget.

Companies 218