SHANGHAI, Oct 9 (Reuters) - China's Tengzhong may finalise a deal with General Motors Co on Friday to acquire the U.S. automaker's Hummer business for about $150 million, a source familiar with the deal said.
'GM and Tengzhong may close the deal as early as today,' the source with knowledge of the talks between the two sides told Reuters.
Sichuan Tengzhong Heavy Industrial Machinery has been in detailed negotiations with GM since it announced a plan in June to acquire the rights to the premium off-road Hummer brand from its U.S. owner.
(Reporting by Fang Yan and Edmund Klamann, editing by Leslie Gevirtz)
((yan.fang@thomsonreuters.com; Reuters Messaging: yan.fang.reuters.com@reuters.net; +86 21 6104 1793)) Keywords: TENGZHONG/HUMMER (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'GM and Tengzhong may close the deal as early as today,' the source with knowledge of the talks between the two sides told Reuters.
Sichuan Tengzhong Heavy Industrial Machinery has been in detailed negotiations with GM since it announced a plan in June to acquire the rights to the premium off-road Hummer brand from its U.S. owner.
(Reporting by Fang Yan and Edmund Klamann, editing by Leslie Gevirtz)
((yan.fang@thomsonreuters.com; Reuters Messaging: yan.fang.reuters.com@reuters.net; +86 21 6104 1793)) Keywords: TENGZHONG/HUMMER (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
