General Motors on Wednesday night gave up on efforts to sell its Hummer operations to a Chinese buyer and said it would now wind down production of the heavy SUV.
In a statement GM said Sichuan Tengzhong Heavy Industrial Machines was unable to complete the acquisition.
The Chinese company’s attempt to acquire the brand had already faced rejection by Beijing, throwing what would have been a landmark deal into disarray and further undermining the prospects of cross-border deals involving mainland companies.
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