Tengzhong/Hummer: will they or won't they?

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clpstaff &clp articles

When Sichuan province-based truck manufacturer Tengzhong first revealed its plans to acquire the Hummer brand from General Motors, there was widespread…

When Sichuan province-based truck manufacturer Tengzhong first revealed its plans to acquire the Hummer brand from General Motors, there was widespread incredulity in the market. And it seemed that the Chinese regulators shared the feeling.

But the companies have not given up. On October 9, it was reported that GM had completed the agreement with Sichuan Tengzhong; three days later, Reuters reported that China's Ministry of Commerce (Mofcom) had not yet received a formal application, but Sichuan Tengzhong was still “talking to the regulators” and hoped to close the deal by the end of the year, or early in 2010.

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