General Motors And Tengzhong Sign Definitive Agreement For Sale Of HUMMER
Green Car Congress
OCTOBER 9, 2009
Ltd (Tengzhong) have entered into a definitive agreement that will allow Tengzhong to acquire GM’s HUMMER brand. Tengzhong intends to purchase HUMMER through an investment entity, in which it will hold an 80% stake. Under the terms of the definitive agreement, the buyer will acquire the ownership of the HUMMER brand, trademark and tradenames, as well as specific IP license rights necessary for the manufacture of HUMMER vehicles.