Sichuan Tengzhong in deal to buy Hummer - Houston Business Journal:

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When GM, which filed for bankruptcy protection this announced June 2 that a buyer had been founr forthe off-road vehicle line, but the name was not immediatelg disclosed. Tengzhong, a major industriall machinery group, will acquire the rights to theHummerf brand, along with a senior management and operational team. It will also assumde existing dealer agreements relatingto HUMMER’sx dealership network. It is contemplated that Tengzhong as part ofthe transaction, ente r into a long-term contract assembly and key componengt and material supply agreemeny with GM. In an earlier statement, GM said it expect the deal if successfup to secure morethan 3,000 US jobs.
The final terms of the deal, scheduled to close in the third are subject to final The cost of the transaction was not is acting as exclusive financial advisodr and is acting as internationa legal counsel to Tengzhong on this Citi is acting as financialp advisorto GM.