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Friday, October 9, 2009
China's Sichuan Tengzhong Heavy Industrial Machinery Co. is to finalize a deal with General Motors (GM) to get the American automaker's Hummer business.
"GM and Tengzhong may close the deal as early as today," a source familiar with the deal said on Friday.
Representatives of the privately owned company have been in the US for several days working on final details with the American automaker.
The purchase price is not known yet.
General Motors Company faced bankruptcy in summer and received about 50 billion dollars in US government aid.
Tengzhong is based in the western Chinese city of Chengdu in Sichuan province.
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