HONG KONG (Reuters) - A major shareholder of the Chinese company buying General Motors' GM.UL Hummer brand said on Monday that he hopes the deal can be approved by the Chinese government this spring, paving the way for production of the iconic SUVs in China.



Quote from the article:

In his first-ever interview with foreign media, Suo Lang Duo Ji, a private entrepreneur cited by Chinese media as the architect of the deal that would see Sichuan Tengzhong Heavy Industry Machinery buy Hummer, also confirmed the price tag of the deal at $150 million. Suo Lang, who is also chairman of Chinese chemical maker Lumena Resources Corp (0067.HK), said he and an associate would pay $30 million and hold 20 percent of the new company after the deal closed. Tengzhong, which will hold the remaining 80 percent, said on Monday that it and GM GM.UL had agreed to push back the deadline for the acquisition from January 31 to the end of February as they seek approval from Chinese regulators.

Source: Buyer hopes Tengzhong-Hummer deal done in Spring