AvWeb recently mentioned a deal that Teledyne struck with AVIC International, a Chinese company, to sell Continental Motors to AVIC subsidiary Technify Motors. (See TCM's press release here.)
This is a pretty big deal for several reasons. First, it's more aviation business going to companies based overseas. Thankfully, AVIC seems to have made a strong commitment to keeping Continental at their current location in Mobile, AL. Second, this move will hopefully provide Continental the capital it needs to develop a series of diesel aircraft engines.