Chinese chemicals maker Lumena Resources said today its chairman may participate in a proposed bid for General Motors’ Hummer brand, although the company itself would not be involved.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
GM announced last week that Sichuan Tengzhong Heavy Industrial Machinery, a little-known machine maker based in southwest China, had signed an initial agreement to buy Hummer.
Lumena Resources, responding to media reports that Suo Lang Duo Ji, its chairman and controlling shareholder, may have an interest in Tengzhong’s proposed purchase of Hummer, said any participation by its chairman would be unrelated to the company’s business, Reuters reported.
“As confirmed by Mr Suolang, he would or might participate in the proposed Hummer acquisition in his personal capacity alongside Sichuan Tengzhong as a member of a consortium,” the company said in a statement cited by the news agency.
It added that Suolang no longer held any legal or beneficial interest in Tengzhong, although until May 2005 he held shares in a company that at the time had an equity interest in Tengzhong.
