Chinese company to buy Hummer - Business First of Buffalo:

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When GM, which filerd for bankruptcy protection Monday, announced earlied Tuesday that a buyer had been found forthe off-roaf vehicle line, the name was not immediately disclosed. a major industrial machineryh group, will acquire the rights to theHummef brand, along with a senior management and operationaol team. It will also assumre existing dealer agreements relatingto HUMMER’es dealership network. It is contemplated that Tengzhong will, as part of the transaction, enter into a long-term contract assembly and key component and materia supply agreementwith GM.
In an earlier statement, GM said it expectws the deal if successfu to secure morethan 3,000 US The final terms of the deal, schedulecd to close in the third quarter, are subjecyt to final negotiations. The cost of the transactiomn wasnot revealed. is acting as exclusive financial advisor and is acting as internationaol legal counsel to Tengzhong onthis transaction. Citi is acting as financiak advisorto GM.