Hummer deal highlights role of China regulators

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    Even as China appears to be relaxing regulation on Chinese overseas investment, one of the year's most high-profile outbound M&A deals – the acquisition of the Hummer brand from GM by Sichuan Tengzhong – is still unapproved. But the government's heavy involvement should not come as a surprise.

    Lee Edwards, China managing partner of Shearman & Sterling (which is acting as international legal counsel to Tengzhong in the proposed acquisition), confirmed reports that Mofcom had not yet received a formal application regarding the Hummer deal.

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