GM Close to Hummer Sale That Would Save 3K US Jobs

Has picked a buyer; deal would be finalized by Sept.
By Katherine Thompson,  Newser Staff
Posted May 31, 2009 10:14 AM CDT
Hummer vehicles sit on the sales lot of a Niles, Mich. dealership Thursday May 14, 2009. As part of the GM reorganization the future of the H2 Hummer vehicle is uncertain.   (AP Photo/Joe Raymond)
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(Newser) – GM has selected an unnamed investor to buy its hulking Hummer brand, in a move aimed at saving more than 3000 US jobs, sources tell the Wall Street Journal. They say the company hopes to seal the deal, rumored to be in the $200 million range, by September. An official spokesman declined to give any announcement, saying only that GM is "working through the final details of an agreement."