Gulf Arab investors eye GM's Hummer unit

Gulf Arab investors eye GM's Hummer unit
Tue Aug 26, 2008 6:41am EDT

By John Irish

DUBAI (Reuters) - Two Gulf Arab investors have expressed
interest in buying General Motors Corp's (GM) 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," GM Middle East Managing
Director Terry Johnsson said in a telephone interview.

GM was readying sales documents for its Hummer brand and
had initial expressions of interest from potential buyers that
it hoped to develop into formal sale talks, the automaker's
Chief Executive Rick Wagoner said on August 21.

"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.

Johnsson said he was not directly involved in the sale process.

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