GM Finalizing HUMMER Sale This Week?

Mon, Aug 24, 2009

Hummer News

General Motors could be ready to sign off on the sale of HUMMER this week, according to Bloomberg, citing two people familiar with the negotiations.

While it seems a bit premature, GM and Tengzhong could be finalizing the details in order to submit it to both Chinese and American regulatory bodies, which could take several weeks.

Bloomberg is reporting that several executives from Tengzhong are flying in from China this week to continue negotiations, and HUMMER CEO Jim Taylor confirmed in an email statement that talks are ongoing.

“Negotiations continue to progress and the transaction will be announced upon the signing of the definitive agreement as soon as appropriate,” said Taylor.

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