Bankrupt Fisker Gets Nod For $149M Sale To Wanxiang

Law360, Wilmington (February 18, 2014, 6:14 PM EST) -- A Delaware bankruptcy judge on Tuesday approved the sale of shuttered electric car maker Fisker Automotive Holdings Inc. to a unit of China's Wanxiang Group Corp. for $149.2 million, blessing the result of an auction that boosted its sticker price by nearly $90 million.

U.S. Bankruptcy Judge Kevin Gross agreed to sign off on Fisker's deal with Wanxiang America Corp., the U.S. subsidiary of the Chinese auto parts giant, which topped Hong Kong-based Hybrid Tech Holdings LLC on Friday following a three-day auction.

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