Getting your player ready...
DETROIT — General Motors Co. was poised to sign a deal Thursday to sell its Hummer brand to a Chinese heavy-equipment manufacturer, a person briefed on the deal said.
Representatives of Sichuan Tengzhong Heavy Industrial Machinery Corp. have been in the U.S. working on details with GM, and both sides hope to sign a sales agreement this week, said the person, who asked not to be identified because the deal is not final.
The purchase price was not known, but GM said in its bankruptcy filing that Hummer might bring $500 million or more.
Through September, Hummer sales are down 64 percent from the same period last year. The Associated Press
