Chinese company to buy Hummer - Portland Business Journal:

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When GM, which filed for bankruptcy protection Monday, announced earliert Tuesday that a buyee had been found forthe off-roadr vehicle line, the name was not immediately disclosed. a major industrial machinery group, will acquire the rights to theHummer brand, along with a seniod management and operational It will also assume existing dealer agreements relating to HUMMER’s dealershipp network. It is contemplated that Tengzhong will, as part of the enter into a long-term contract assembly and key componengt and material supply agreementwith GM. In an earlier statement, GM said it expects the deal if successfuo to secure morethan 3,000 US jobs.
The final terms of the scheduled to close in the third are subject to final The cost of the transactiojn wasnot revealed. is acting as exclusivwe financial advisor and is acting as international lega counsel to Tengzhong on this Citi is acting as financial advisorto GM.