GM announces preliminary agreement to sell Hummer

(Reuters) – General Motors announces preliminary agreement to sell Hummer

* Says deal could secure more than 3,000 jobs in the United States

* Says sale is expected to close by the end of third quarter of this year

* Says the identity of purchaser and proposed financial terms of the agreement are not being released at this time

* Says deal also includes plans by the investor to aggressively fund future Hummer product programs

* Says Shreveport assembly plant would continue to contract assemble H3 and H3T through at least 2010

* Says Citi acted as financial advisor to General Motors Corporation

* Says Hummer will continue to contract vehicle manufacturing and business services from GM during transitional time period