GM Said to Not Win Chinese Approval for Hummer Sale (Update2)

[Viet Nam Vette]

Originally Posted by HummerMann

This is the saga that never ends. I still want to see the Hummer brand continue, but if Tengzhong can't do it, I put my vote in for the owner of AM General. You know by now the price has gone way down, so Hummer could be purchased very reasonably, and at AM General they have a good track record for knowing how to build quality vehicles. As a bussinessman, it's obvious that Tengzhong has already invested millions in this, and wants to manufacture the Hummer, so I'm not totally sure they'll go down without a fight.

The deal may be completed offshore, the people said. Regulators said they won’t block a transaction closed elsewhere, one person said. Suolang Duoji, Tengzhong’s investment partner in pursuing Hummer, has holdings that include 38 percent of Hong Kong-based Lumena Resources Corp., according to data compiled by Bloomberg. Lumena is incorporated in the Cayman Islands.

“The key element here is that both parties want to do the deal,”

It could still happen.... Or as you say ..AM General Could step up to the palte. I heard they are on their last round of orders for the "Humvee" (2620 Units") .. The Milatary has a new rig they want built. Who knows if AM General will get that contract.

http://www.chicagotribune.com/busine...,5047776.story