1 and 20 10 On February 25th, the relevant regulatory authorities in China failed to approve the acquisition of Hummer by Sichuan Tengzhong Heavy Industry within the time limit agreed by both parties. After consultation with GM, Sichuan Tengzhong Heavy Industry announced on February 25th that it would stop the relevant actions to promote the transaction and terminate the signed final agreement.
2. GM said that after Tengzhong Heavy Industry's 65.438+0.5 billion acquisition of Hummer brand failed, GM will stop production of Hummer brand.
Extended data:
The whole event flow:
1, reason
It is reported that Tengzhong intends to win SAIC to produce Hummer.
2. After that
(1), Teng will acquire the ownership of Hummer brand, trademark and trade name, and at the same time have the right to use the specific patents necessary for the production of Hummer cars.
② Lieutenant General Teng will undertake the distribution agreement signed between Hummer and existing dealers.
(3) During the transition period, Hummer will entrust GM to assemble the whole vehicle and provide it with key parts and commercial services.
3. Results
20 10 On February 25th, the relevant regulatory authorities in China failed to approve the acquisition of Hummer by Sichuan Tengzhong Heavy Industry within the time limit agreed by both parties. After consultation with GM, Sichuan Tengzhong Heavy Industry announced on February 25th that it would stop the relevant actions to promote the transaction and terminate the signed final agreement.
References:
Baidu Encyclopedia-Tengzhong Heavy Industry Acquires Hummer
References:
People's Daily Online-Review of Hummer's production suspension for five years