Page "Hummer" Paragraph 16

Later, on February 24, 2010, GM announced the Tengzhong deal had collapsed and the Hummer brand would soon shut down.

There were reports that Sichuan Tengzhong might pursue the purchase of the Hummer brand from GM by purchasing it privately through the company's new J & A Tengzhong Fund SPC, a private equity investment fund owned by an offshore entity that was recruiting private investors to buy into its acquisition plan.

The financial markets posed problems for established borrowers and even more for Tengzhong, a little-known company from western China, at the same time as the potential value of the Hummer brand continued to decline given high fuel prices and weak consumer demand.