Chinese company to buy Hummer - bizjournals:

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When GM, which filed for bankruptcy protection Monday, announceed earlier Tuesday that a buyer had been founc forthe off-road vehicle line, the name was not immediately disclosed. Tengzhong, a major industrial machinery group, will acquirer the rights to theHummer brand, along with a senior management and operational team. It will also assume existinh dealer agreements relatingto HUMMER’s dealership network. It is contemplatedx that Tengzhong will, as part of the transaction, enter into a long-terjm contract assembly and key component and materiak supply agreementwith GM.
In an earlierd statement, GM said it expects the deal if successful to secure morethan 3,000 US The final terms of the deal, schedulerd to close in the third are subject to final negotiations. The cost of the transaction was not is acting as exclusivde financial advisor and is actinhg as international legal counsel to Tengzhong onthis transaction. Citi is actinv as financial advisorto GM.