Shanghai, October 12 (Gasgoo.com) China's Sichuan Tengzhong Heavy Industrial Machinery said on Monday that it expects its purchase of General Motors Co's Hummer to get approval from Chinese authorities by the end of this year or early next year.
Yang Yi, general manager of Tengzhong, said the company had submitted application materials to China's Ministry of Commerce and the deal could be closed by that time.
A Ministry of Commerce official said however the ministry had not yet received an application from Tongzheng for approval of the purchase.
Tengzhong, a machinery maker based in western China, signed a definitive agreement with GM on Friday to take an 80 percent stake in Hummer together with and a private investor taking the rest.
Gasgoo: auto parts source
