GM and Tengzhong push negotiation deadline for Hummer sale to the end of February –

General Motors desperately wants to get rid of its bleeding brands, and not only did it close down a few of them, like Saturn or Pontiac, but it is carrying tough negotiations for other brands as well. Seemingly, the Saab deal between it and Spyker is done, but the other negotiation process, between it and China’s Sichuan Tengzhong, for the sale of Hummer, has now captured the spotlight.

As you may remember, when the two companies announced that the negotiations are underway, they also said that a conclusion will be reached at the end of January. But as you clearly know, the month has ended, and no concrete announcement was given.

According to a new report, it seems that the two corporations have pushed the deadline to the end of the month, as the deal still has to be regulated by a few Chinese government organizations. While it is expected that all the necessary paperwork will be completed until then, one of the main Chinese entrepreneurs behind this deal, Suo Lang Duo Ji, has gone on the record saying that he hopes the process will be completed by this spring, so we might be in for another delay after February ends.

Source: Autoblog

Post tags: Tags: General Motors, gm, Hummer, sichuan tengzhong