DESPITE FEARS earlier this year that the Chinese Government would block the sale, General Motors and China’s Sechuan Tengzhong have reached an agreement for the sale of Hummer.

Financial details have not been disclosed by either party, but the agreement will see Tengzhong purchase Hummer through an investment entity, in which the manufacturer will own [...]

• 
• Comment
• Read More

HUMMER’S SALE to Sichuan Tengzhong is mere months away from being finalised, however it appears there’s now one heck of a hurdle for the two companies to overcome.

A Chinese state-controlled news outlet, Shanghai Securities News, is reporting that the central government is likely to scuttle Tengzhong’s plans for the acquisition, fearing it goes against the [...]

• 
• Comment
• Read More

LITTLE-KNOWN Chinese industrial machinery company Sichuan Tengzhong has emerged as GM’s approved buyer for the Hummer brand. Although Hummer will be divorced from General Motors once the deal is finalised later this year, Tengzhong is adamant that much of Hummer’s current business structure will remain unchanged.

There will be no corporate reshuffle, nor will Hummer’s headquarters [...]

• 
• Comment
• Read More