Atlas Holdings Wins Exide's US Assets With $179M Ch. 11 Bid

Law360 (July 24, 2020, 3:05 PM EDT) -- Connecticut-based Atlas Holdings LLC tentatively won Delaware Chapter 11 bidding Thursday for the North American assets of bankrupt battery maker Exide Technologies LLC, with a $178.6 million offer that beat by $8.6 million a first offer from Exide's sale-opening stalking horse.

The bid from Atlas, which owns 20 businesses operating in a range of sectors, is for assets that include seven of Georgia-based Exide's plants around the United States, as well as two lead-recovery recycling smelters and its distribution system.

A separate sale of Exide's European assets was tentatively designated for an ad hoc noteholder group under a credit bid offer,...

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