[Desert Dan]

GM receives Gulf Arab interest in Hummer

Two separate investors look at purchasing General Motors? brand

Reuters
updated 6:31 a.m. PT, Tues., Aug. 26, 2008
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DUBAI - General Motors Corp has received interest from two separate investors from the Gulf Arab region to buy its Hummer brand, the company?s Middle East chief told Reuters on Tuesday.
?For sure, there has been interest from various parties within the Gulf ... there is a precedent in the cases of Aston Martin, Ferrari or Daimler and those kinds of solutions could be very realistic solutions,? General Motors Middle East Managing Director Terry Johnson said in an interview.
General Motors is readying sales documents for its Hummer brand and has initial expressions of interest from potential buyers that it hopes to develop into formal sale talks, the automaker?s chief executive said on Aug 21.
Johnson said keeping the Hummer division was still a realistic option and that it was not a ?foregone conclusion? it would be sold.
?Apparently, we have had two separate investors raise their hand as being interested, but I don?t know what?s happened since then,? Johnson said by telephone, adding the investors were from the Gulf region.