Teng in the Heavy may be set up offshore companies for the acquisition of Hummer

Top 21 in Heavy Teng said the company is likely to establish an offshore investment company, to facilitate their acquisition of the Hummer brand, off-shore company's principal shareholders will be in Sichuan Province Tang, Xu-Guang Li, chairman of resources Yandeng will hold a minority interest.

According to China news agency reported July 22, Sichuan, China Tang in the top 21 Heavy Industry Machinery Co., Ltd., said the company is likely to establish an offshore investment company, to facilitate their acquisition of GM's Hummer brand. virtual office Sichuan Teng announced intention to acquire a Hummer nearly 2 months, yet have made positive progress in Teng-Commerce and Development and Reform Commission has to submit the application documents, the relevant departments are still in this transaction for approval.

Reuters quoted Tang in the high-level condition of anonymity as saying, this offshore company's major shareholders will be the Sichuan Tang, the other has been considered to be controlled behind the scenes in Sichuan Province Tang's chairman Lee Yandeng Xuguang resources will be holds a minority stake.

Kyoko resources in Proton announced intention to acquire Hummer successfully listed in Hong Kong after being questioned, the financing market, "to buy horses," but the company has said it is interested in acquiring Hummer deal is its chairman, rather than the resource itself kyoko.

The executives also said that Proton is currently in heavy industry had not yet begun to establish procedures for the special purpose company, as the most important thing was that we must first wait until the completion of the transaction.

July 23, according to China news agency reported in the media report "Heavy Teng in the possible establishment of an offshore investment company, to facilitate their acquisition of GM's Hummer brand," the news of swirling speculation occasion, another media be exposed the acquisition news: Recently, Teng will be formally signed in Heavy Hummer merger agreement, offshore company Morgan Stanley will provide a full purchasing funds.

According to China's current rules, if the Chinese companies to build Hummer factory in China must be approved by Development and Reform Commission. If the Tang in China's domestic investors to purchase from the troubled American brand, but also must be approved by the Ministry of Commerce.

Prior to this, there is news that Proton may have been purchased Hummer off-shore, so do not need to be approved by Chinese Ministry of Commerce. At present, there are media reports that the Ministry of Commerce has been acquired Proton Hummer project a green light.

Before, the industry that because Hummer is a gas-guzzling cars, do not meet national energy-saving environmentally friendly theme of the acquisition of foreign companies not in line with the theme of domestic merger and reorganization, it received regulatory approval is unlikely. But the Commerce Department has previously said the acquisition of Proton Heavy interest in a normal and rational behavior. Can be seen in the acquisition of the Ministry of Commerce of the Proton Hummer is not opposed to their views.

Hummer recently in Tianjin in the research done in the steam tests show that: "Hummer H4 fuel oil in the 13 or so, less than the Land Rover." While the fuel consumption problem, it is precisely Development and Reform Commission can not be Hummer-made key issues.

It is reported that Teng in the Heavy and General Motors Hummer asset price negotiations because of disagreement, the time has finally signed a postponed repeatedly. 23, this well-informed sources revealed to the media once again, with General Motors, Proton will be 28 July to 5 August acquisition of the treaty signed between.