what GM Sells Hummer and give some details ?
GM in deal to sell Hummer, but won’t say to whom Tue Jun 2, 2009 10:30am EDT By Poornima Gupta and Soyoung Kim DETROIT (Reuters) – General Motors Corp said it had reached a preliminary deal to sell its Hummer brand, part of its effort to shed half of its eight U.S. lines and leave bankruptcy court protection as a leaner company. GM, one day after filing for bankruptcy, said in a statement on Tuesday that it was not disclosing the buyer or the value of the deal under the terms of the agreement. The buyer is “serious,” Chief Executive Fritz Henderson said on CNBC, and he expects details of the transaction to become public “in the relatively near term.” The Hummer sale comes a year after GM started searching for a buyer for the all-SUV line more emblematic of stronger economic times, when the cost of gasoline was not much of an issue. The automaker is also in the process of selling its Saab and Saturn brands by the end of 2009, and plans to discontinue Pontiac by the end of 2010. GM has s
