For those of you who don’t know, GM recently sold their infamous Hummer brand to a Chinese conglomerate known as Sichuan Tengzhong Heavy Industrial Machinery. Under the terms of the definitive agreement, Tengzhong 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. Tengzhong will also assume the existing dealer agreements relating to Hummer’s dealership network. Tengzhong also intends to purchase Hummer through an investment entity, in which it will hold an 80 percent stake. Mr. Suolang Duoji, a private entrepreneur with holdings that include the Hong Kong-listed thenardite producer Lumena, will hold the remaining 20 percent stake. Financial terms of the agreement were not disclosed but it’s rumored that The General stands to net around $150-million after the sale has been concluded.

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