General Motors Corp. (NYSE: GM), announced it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER. This transaction is the result of GM's strategic review of the HUMMER brand and ongoing restructuring efforts.
The sale is expected to close by the end of third quarter of this year and is subject to customary closing conditions.
The deal is expected to secure more than 3,000 U.S. jobs in manufacturing, engineering and at HUMMER dealerships around the country. The transaction also includes plans by the investor to aggressively fund future HUMMER product programs. Under terms of the MoU, the identity of the purchaser and proposed financial terms of the agreement are not being released at this time.
3 comments:
I think it's good that someone is trying to help GM save their brands. I found a good article you should check out. http://www.autotropolis.com/autotropolis-columns/krome-on-cars/
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