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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 97
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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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Kinder Morgan to purchase El Paso for approximately $38B to form largest natural gas pipeline network and largest midstream energy enterprise in North America

Green Car Congress

(KMI) and El Paso Corporation on Sunday announced a definitive agreement whereby KMI will acquire all of the outstanding shares of EP in a transaction that will create the largest midstream and the fourth-largest energy company in North America with an enterprise value of approximately $94 billion and 80,000 miles of pipelines. KMP and KMR.

El Paso 225
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Nikola announces $200M convertible senior notes investment; approx. $1B cash and liquidity position

Green Car Congress

Nikola Corporation announced that an institutional investor has agreed to make a $200-million investment in Nikola through the purchase of Convertible Senior Notes. Funds advised by Antara Capital LP have agreed to purchase $200 million aggregate amount of 8.00% / 11.00% Convertible Senior Notes due 2026.

Convert 186
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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). Li-ion maker A123 Systems, Inc. Earlier post.). Earlier post , earlier post.)

Financing 225
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Albemarle signs exclusivity agreement with Mineral Resources for 50/50 lithium JV in W. Australia; $1.15B deal

Green Car Congress

The purchase price for Albemarle’s 50% interest in the JV would be US$1.15 The proposed JV, which remains subject to negotiation of definitive documents, would combine Albemarle’s lithium production and marketing expertise with Mineral Resources Limited’s (MRL) leading regional presence and mining capabilities.

Australia 236
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Koch invests $252M in Compass Minerals to support development of lithium brine project in Utah; ESM for DLE

Green Car Congress

Compass Minerals expects to use the remaining $52 million of proceeds from the KM&T investment, less transaction expenses, to reduce debt, representing a significant step toward aligning the company’s capital structure with its corporate growth strategy. Jones Day acted as legal advisor for KM&T.

Utah 195