GM receives Gulf Arab interest in Hummer buy

DUBAI (Reuters) -- General Motors has received interest from two separate investors from the Gulf Arab region to buy its Hummer brand, the company's Middle East chief told Reuters on Tuesday.

"For sure, there has been interest from various parties within the Gulf ... there is a precedent in the cases of Aston Martin, Ferrari or Daimler and those kinds of solutions could be very realistic solutions," General Motors Middle East Managing Director Terry Johnsson said in an interview.

General Motors is readying sales documents for its Hummer brand and has initial expressions of interest from potential buyers that it hopes to develop into formal sale talks, the automaker's CEO said on August 21.

Johnsson said keeping the Hummer division was still a realistic option and that it was not a "foregone conclusion" it would be sold.

"Apparently, we have had two separate investors raise their hand as being interested, but I don't know what's happened since then," Johnsson said by telephone, adding the investors were from the Gulf region.



TODAY'S HEADLINES
  • Ford says it might sell Volvo
  • Report: Ford won't seek German state aid
  • New-car sales plunge in Spain, Italy and France
  • Report: German car parts suppliers to consolidate
  • Conti seeks more streamlined supplier base
  • Companies in Europe plan electric car infrastructure
  • GM, Ford ask for govt. help for Saab and Volvo
  • VW bucks U.S. downtrend, sees '09 growth
  • Report: Fiat seen profitable in 2009 despite revenue fall
  • Daimler, Cerberus brawl over Chrysler
  • Audi CEO: We're on track for record year
  • Porsche switches Panamera debut to Shanghai
  • BMW purchasing chief: Cost cuts are on track
  • BMW's expansion of Spartanburg plant is on schedule
  • Without Getrag deal, Chrysler will refine its 6-speed



 

 

Unlimited access
to our website
news and data
Plus you'll get the
print edition of
Automotive News
Europe
delivered to your
home or office
every week
 
By taking advantage of this online offer, you'll get an entire year's subscription for only € 99! (*€ 99 rate is for delivery in Europe, outside Europe rate is $164.)
*Name:
*Email:
*Company:
*Address:
*City: *State: 
*ZIP/Postal:
*Country: