Market Overview

GM Still Trying To Sell Hummer Division


General Motors is still searching for suitors for its Hummer brand. After the collapse of its deal with Sichuan Tengzhong Heavy Industrial Machinery, General Motors has approached previous bidders for the brand. GM had earlier turned down their offers.

Reportedly, at least four of those bidders are Chinese firms. Two of them had expressed interest in the piecemeal purchase of the tooling and equipment division only. General Motors has already started the process of winding down the unit. However, the automaker has said that it would consider viable offers early in the process.

GM put Hummer up for sale in 2008. The collapse of the deal has increased the automaker’s woe, as GM has been trying to divest its unprofitable brands. The company recently sold its SAAB brand to Dutch automaker Spyker.

Posted-In: News M&A Global Intraday Update


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