Free to terminate the purchase agreement in General will disable Hummer Hummer operations
Kenilworth (Chan Siu red) with Teng suddenly announcing the acquisition of Hummer, soar on Hummer acquisition has gradually by financial news to entertainment news has changed. Yesterday, Sichuan goldtel group in heavy industry publishes the definitive statement on the acquisition of Hummer. Soar in the statement that, "because in the agreed period of time failed to get the Chinese regulators on the approval of the acquisition of Hummer dealer, soar in the General consultations and stop promoting the exchange of relevant action, and terminate the definitive agreement signed. ”
Yesterday, General Motors and soar in heavy industry, announced the termination of acquisitions respectively Hummer news. Both sides indicated that, due to the two sides agreed period of time failed to get the Chinese regulators approved the Hummer dealer, Sichuan goldtel group in heavy industry and general consultation, stop promoting the exchange of relevant action, and terminate the signed a definitive agreement, GM will launch an orderly shutdown Hummer business program.
Free also in the statement that, "the company on the acquisition into a huge effort, because this trade fair in that room to provide a unique opportunity to attractive prices purchase a global brand. At the same time, through free and other investors ' investment injection for Hummer's existing management team to provide resources to launch eco-friendly sports cars to meet the needs of the existing main market, and attract including China, emerging markets. ”
Turning to the termination of the cause of the acquisition of Hummer, universal and free of all that "transaction without the approval of the relevant regulatory institutions in China." But over the years, the Department of Commerce has insisted that was never received a formal declaration, if an application must be received in accordance with the foreign investment management measures "shall be examined. While free in the room, as early as in heavy industry and reached an agreement to purchase Hummer, application materials have been submitted to the relevant departments.
(Beijing Youth daily)
[Edit: malenawang]