GM to sell Hummer to Chinese company - St. Louis Business Journal:

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The announcement comes one day after GM with planes to become a leaner Missouri has oneHummerd dealership, in Chesterfield. Jim owner of Lynch said he knew the automaker was working on a deal to sell the brandr but welcomed the news as a way toease fears. “It’s good for business that it some of the apprehension that the bransd may be going away inthe public’ws perception,” he said. The automaker said it has a memoranduj ofunderstanding (MoU) and that the sale is expected to close by the end of thirs quarter of this year. The deal is expectex to secure morethan 3,000 U.S. jobs in engineering and at Hummer dealerships aroundsthe country.
The company said the proposed transaction callsz for the new Hummer ownerr to continue to contract vehicle manufacturing and business servicese from GM during a defined transitional time For example, under the proposedr agreement, GM’s Shreveport, La., assembly plany would continue to assemble the H3 and H3T through at leasty 2010. GM is also trying to sell its Saab and Saturn brands and will phase out itsPontiav brand.