Hummer sale: GM closer to deal with China company

By doris | Published: October 11, 2009

Full Story atmoney.cnn.com

NEW YORK (CNNMoney.com) — General Motors moved a step closer to selling its Hummer brand Friday when it announced that it had signed a definitive agreement with a Chinese manufacturer.

Sichuan Tengzhong Heavy Industrial Machinery Co. and GM said in June that they had reached a preliminary agreement and expected to close by the end of September.

It appeared the deal may be in trouble after the companies missed that target last week. Friday’s announcement provides assurances that the agreement has not come undone.

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