A couple of months ago we heard De Tomaso was auctioned and sold to a Swiss investor for $2.2 million, but apparently, the deal went sour.
The buyer, L3 Holding, bailed out on its purchase when it failed to raise the required amount of cash for the acquisition of the exotic Italian carmaker. That forced another auction in which a Chinese group, called Consolidated Ideal Team Venture, won the rights to purchase De Tomaso for just $1.8 million. That’s an entire company sold roughly for the price of a Pagani Huayra.
The acquisition was confirmed by the Court of Turin in the presence of some of the 800 employees who are still on the payroll of the company that became insolvent in 2010. Unfortunately, their plans are not clear yet, as many speculate the De Tomaso marque will vanish from Italy.
According to Europe Online, the Chinese group intends to use the car manufacturer’s name and build De Tomaso branded cars in China. We can’t say for sure if the Italian carmaker is saved or not, because the Chinese group hasn’t unveiled its plans yet. You should know that, Consolidated Ideal Team Venture is based in Hong Kong yet it’s legal headquarters are in the Virgin Islands…
De Tomaso was founded in 1959 by racing driver and industrialist, Alejandro De Tomaso. The carmaker became famous in the 1960’s and 1970’s with its iconic Pantera and Mangusta models and at one point, it was a competitor for Ferrari and Lamborghini.
By Bogdan Zoltan
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