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Article: DIGEST.(BUSINESS)
- Article from:
- The Wisconsin State Journal (Madison, WI)
- Article date:
- October 10, 2009
CopyrightCOPYRIGHT 2009 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: State Journal staff, wire services
AUTOMAKERS
GM's Hummer deal advances Hummer, the off-road vehicle that once epitomized America's love for hulking trucks, is now in the hands of a Chinese heavy equipment maker. General Motors and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal for GM to sell the brand Friday.
Tengzhong will get an 80 percent stake in the company, while Hong Kong investor Suolang Duoji, who indirectly owns a big stake in Tengzhong through an investment company, will get 20 percent. The investors also will get Hummer's nationwide dealer network. Financial terms were not ...