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Chicago Tribune: Russian's Purchase of U.S. Battery Firm Prompts Concerns

Businessman Boris Zingarevich, left, with Sberbank head German Gref at a conference in 2010. Denis Grishkin

Russian businessman Boris Zingarevich has acquired United States battery manufacturer Ener1, which was granted subsidies by the U.S. government as part of a stimulus package, the Chicago Tribune reported this week. The move has prompted concerns in the U.S. over how taxpayer funds are being used. Zingarevich's acquisition of the firm has also led to suspicions that he will transfer technology from the company to Russia, since the tycoon reportedly has ties to President Dmitry Medvedev, who has pushed for development of the domestic high-tech industry.

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