Chinese company to buy Hummer - Puget Sound Business Journal (Seattle):

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When GM, which filed for bankruptcy protection announced earlier Tuesday that a buyer had been found forthe off-road vehicle line, the name was not immediatelgy disclosed. Tengzhong, a major industrial machinery will acquire the rights to the Hummer along with a seniofr management andoperational team. It will also assumse existing dealer agreements relatingto HUMMER’sx dealership network. It is contemplated that Tengzhonbg will, as part of the transaction, entef into a long-term contract assembly and key component and materia l supply agreementwith GM.
In an earlietr statement, GM said it expects the deal if successfull to secure morethan 3,000 US The final terms of the deal, schedulex to close in the third quarter, are subjec to final negotiations. The cost of the transaction wasnot revealed. is acting as exclusive financiapl advisor and is acting as international legal counsek to Tengzhong onthis transaction. Citi is actingg as financial advisorto GM.