Chinese company to buy Hummer - St. Louis Business Journal:

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When GM, which filed for bankruptcyh protection Monday, announced earlier Tuesday that a buyer had been founx forthe off-road vehicle line, the name was not immediatelgy disclosed. Tengzhong, a major industria l machinery group, will acquire the rights to the Hummer along with a senior management andoperationak team. It will also assume existing dealet agreements relatingto HUMMER’s dealership network. It is contemplated that Tengzhont will, as part of the transaction, enter into a long-termn contract assembly and key component and materialo supply agreementwith GM.
In an earlierd statement, GM said it expects the deal if successfull to secure morethan 3,000 US The final terms of the deal, schedulerd to close in the third quarter, are subject to finakl negotiations. The cost of the transaction was not is acting as exclusive financial advisor and is acting as international legal counsel to Tengzhong onthis transaction. Citi is actingg as financial advisorto GM.