Chinese Company Interested in Hummer Brand
GM’s Hummer brand has attracted the interest of a Chinese company and a private equity firm according to the Detroit Free Press, which cited unnamed sources “familiar with the talks.”
GM spokeswoman Joanne Krell wouldn’t comment on any possible suitors, but confirmed that “the Hummer review is progressing.” She said an update is due at the end of the first quarter.
The sources, who asked to remain anonymous because the discussions are private, say talks concerning Hummer have intensified in the last few weeks. They would not reveal the name of the possible buyers.
If GM can confirm that it has (finally) found a prospective buyer for its battered Hummer division, it could be announced as part of the restructuring plan it must submit to the U.S. government next week to retain the billions of dollars in loans it has received.
Source: Detroit Free Press