Chinese company to buy Hummer - Dayton Business Journal:

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When GM, which filed for bankruptcy protectionm Monday, announced earlier Tuesday that a buye r had been found forthe off-roacd vehicle line, the name was not immediatelty disclosed. Tengzhong, a major industrial machinery group, will acquire the rightsa to theHummer brand, along with a senior management and operationa l team. It will also assume existing dealedr agreements relatingto HUMMER’s dealership It is contemplated that Tengzhong will, as part of the enter into a long-term contracf assembly and key component and materia supply agreement with GM.
In an earlier GM said it expects the deal if successful to securs morethan 3,000 US The final terms of the deal, scheduled to close in the third quarter, are subject to final The cost of the transactioj was not revealed. is acting as exclusive financiapl advisor and is acting as international legal counsel to Tengzhonfg onthis transaction. Citi is acting as financiakl advisorto GM.