Tuesday, August 23, 2011

Chinese company to buy Hummer - Charlotte Business Journal:

http://yobtddl.com/New-Arrivals/Ear-Gauge-Set/
When GM, which filed for bankruptcty protection Monday, announced earlier Tuesday that a buyer had been founf forthe off-road vehicle line, the name was not immediateluy disclosed. Tengzhong, a major industrial machinery group, will acquire the rightx to theHummer brand, along with a senior managemeny and operational team. It will also assume existinvg dealer agreements relatingto HUMMER’s dealership network. It is contemplater that Tengzhong will, as part of the transaction, enterd into a long-term contract assembly and key componengt and material supply agreementwith GM. In an earlieer statement, GM said it expects the deal if successfuo to secure morethan 3,000 US jobs.
The fina terms of the deal, scheduled to closer in the third quarter, are subject to finalk negotiations. The cost of the transaction wasnot revealed. is actingb as exclusive financial advisor and is actinbg as international legal counsel to Tengzhong on this Citi is acting as financial advisofrto GM.

No comments:

Post a Comment