A Chinese company is to buy Hummer, the General Motors brand known for its military- inspired offroad vehicles and seen as a symbol of gas-guzzling, road-hogging American excess. Hummer’s sale to Sichuan Tengzhong Heavy Industrial Machinery Company will close this year, marking one of the biggest overseas acquisitions in carmaking by a Chinese group.

mckenzie1971 wrote:i agree mg were selling more cars than hummer before they went belly up what will arnie do if his beloved hummers are made in a diffrent country

General Motors has agreed to sell its Hummer brand to the Chinese firm Tengzhong.

The sale of the 4x4 maker comes while GM is undergoing a period of restructuring after being bailed out by the US government.

GM's
European brands, Opel and Vauxhall, are currently being sold to
Canadian car parts firm Magna, while Saab is to be acquired by Swedish
supercar maker Koenigsegg.

Under the terms of the agreement,
Tengzhong will take ownership of the Hummer brand, trademark and trade
names, as well as the license rights necessary for the production of
Hummer vehicles.

Tengzhong intends to purchase Hummer through
an investment entity, in which it will hold an 80% stake, while Chinese
entrepreneur Mr Suolang Duoji will buy the remaining 20% stake.

patpending wrote:What Car? says the deal is done:

China Car Times wrote:Tengzhong Heavy Industrial Machinery Co, the buyer of General Motors’ Hummer brand, will hopefully clear government approval of the deal as early as the end of this year, the company’s CEO said Saturday.

“If everything goes smoothly, we will be able to get approval from Ministry of Commerce (MofCom) in the fourth quarter (of this year) or at some point in the beginning of next year,” Tengzhong CEO Yang Yi, who was in Detroit for the signing of the acquisition deal, told China Daily in a telephone interview.
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Who do you believe, What Car? or China Car Times

I think I will go for CCT's version

A deal by owner General Motors to sell the marque to China’s Sichuan Tengzhong for $150m (£97m) broke down on Wednesday following days of uncertainty.

It is understood that the deal – the original January 31 deadline for which was extended until February 28 – collapsed as a result of Chinese
environmental policies.