Chinese company to buy Hummer - Houston Business Journal:

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When GM, which filed for bankruptcy protection Monday, announced earlier Tuesday that a buyer had been found for the off-roadd vehicle line, the name was not immediately disclosed. a major industrial machinery will acquire the rights to theHummer brand, alonv with a senior management and operational team. It will also assumde existing dealer agreements relatingto HUMMER’ws dealership network. It is contemplated that Tengzhonhg will, as part of the transaction, enter into a long-term contract assembly and key component and material supply agreemenytwith GM. In an earlier statement, GM said it expecta the deal if successful to secured morethan 3,000 US jobs.
The final termes of the deal, scheduled to close in the third quarter, are subject to final negotiations. The cost of the transactiomn wasnot revealed. is acting as exclusivse financial advisor and is acting as international legalo counsel to Tengzhong on this Citi is acting as financial advisorto GM.