China’s Commerce Ministry said this morning that it has yet to receive an application from Sichuan Tengzhong Heavy Industrial Machinery to purchase the Hummer brand from General Motors. The Ministry must approve such planned acquisitions – and Tengzhong’s failure to seek approval so far could throw a large fork into salvation plans for Hummer.
“The Ministry of Commerce has yet to receive an application concerning Tengzhong’s purchase of Hummer,” Chinese state radio said, quoting an unnamed Ministry official.
“Currently, the Sichuan province commerce office is preparing to report the situation to the Ministry of Commerce, and because nothing is known about the specific content of the purchase agreement, for now [the ministry] will not say any more,” the official said, according to the report.
On Friday, GM signed a deal with Tengzhong for the company to purchase Hummer from the Detroit automaker for an undisclosed amount.
