Corporate vehicle provision for fleets of 5 plus
Oleg Deripaska denies Hummer talks with GM
Motortrader August 17, 2008Oleg Deripaska, the Russian billionaire linked with a bid for Hummer earlier in the week, has denied he was seeking to acquire the brand from General Motors.
Talks with his Russian Machines car unit were only exploratory and it is unlikely a bid will be forthcoming.
“Russian Machines neither received any proposals to consider acquisition of the Hummer assets, nor is strategically interested in such a deal,” said the company in a statement.
GM, which has lost more than $51 billion over three years and is aiming to raise up to $4 billion through asset sales, has hired Citibank to consider options for the gas-guzzling Hummer.
The US carmaker is also believed to have held talks with Indian carmaker Mahindra & Mahindra about a possible deal.
In the news this week...
- R2RC calls for Block Exemption renewalAM online
- Five years in prison for careless drivers who killNational Newspapers
- Parts suppliers wary of carmakersFinancial Times
- Uninsured drivers get lower fines but are killing more people than everThe Times
- LPG cars are ‘hot property’Car Dealer Magazine
- Oleg Deripaska denies Hummer talks with GMMotortrader
Fleet-i Login
