Tengzhon led flashlight g's Hummer deal outline disclosed
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Tengzhong's Hummer deal outline disclosedPublished: 26 Aug 2009 19:13:04 PST
Shanghai, August 26 (Gasgoo.com) General Motors might sign an agreement for sale of its Hummer brand to China's Sichuan Tengzhong Heavy Industrial Machinery later this week, media said yesterday, and the outline of the deal is disclosed online.

Executives from prospective buyer Tengzhong were expected to arrive in Detroit earlier this week for further discussions with GM, said insiders. An agreement could be signed and announced during the trip, according to Bloomberg News.

Since early June, when GM reached a memo of understanding with Tengzhong for the sale of the Hummer brand, the parties have been in frequent talks to finalize a definitive agreement, GM said. The deal is subject to U.S. and Chinese regulatory approval before it takes effect.

Sichuan Tengzhong has stated publicly that it intends to purchase the Hummer brand, but will not manufacture Hummer vehicles in China or acquire Hummer's assets or a stake in parent company General Motors.

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