REFILE-China's Sichuan Auto denies interest in GM's Hummer
(Refiles to fix typo in headline)
SHANGHAI Feb 17 (Reuters) - Sichuan Auto Industry Group Co, a tiny automaker in southwest China, has no interest in buying General Motors' (GM.N) Hummer unit, a senior company executive said on Wednesday, denying media reports.
Sichuan Auto was reported to be in talks with GM to buy its sport-utility vehicle subsidiary and could pay up to $500 million for the deal.
"It's a complete rumour. We have never had discussions with GM, nor are we interested in Hummer," said the Chinese executive who asked not to be identified.
Privately-owned Sichuan Auto has about 1 billion yuan ($146.3 million) in assets and nearly 1,000 staff, according to its website. It has a production capacity of 30,000 passenger cars and 5,000 buses annually
GM, which has to convince the U.S. Congress of its viability in order to keep $13.4 billion in federal loans, has been seeking buyers for its Hummer SUV line, the Swedish brand Saab and a medium-duty truck business based in Flint, Michigan.
Hunan Changfeng Motor Co 600991.SS, partly owned by Mitsubishi Motor (7211.T), had shown initial interest in GM's Hummer brand, but backed off shortly, a source with direct knowledge of the matter, told Reuters in August. ($1=6.835 Yuan) (Reporting by Fang Yan, Editing by Jacqueline Wong)
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