Italian carmaker De Tomaso has been sold to a Chinese business consortium for $1.8 million.
Since going bankrupt in 2012, the creator of the Pantera and Mangusta sports cars has been seeking a savior. A rumor was then floated that BMW might have been interested in purchasing De Tomaso, but that deal never materialized.
As recently as six weeks ago, Auto Motor und Sport reported that L3, a Swiss holding company, would be purchasing De Tomaso for $2.1 million, but the deal apparently fell through due to L3 not being able to uphold its end of the deal. Now it appears China’s Ideal Team Ventures consortiums, once outbid by L3, will acquire the brand, according to Italian media.
Ideal Team Ventures plans to apply De Tomaso branding to cars being built in China, although the type of car has not been announced.
De Tomaso was founded in 1959 and is most known for its Ford-powered mid-engined sports car known as the Pantera. It also owned Maserati from 1976-93, a stint during which it produced the BiTurbo and Chrysler TC.
Finally, in 2009 the company was bought by an Italian investor Gian Mario Rossignolo, who recreated the brand to produce a five-door crossover called the Deauville but it failed to launch. Rossignolo and two associates were arrested after being found guilty of defrauding the Italian government of $9.1 million.
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