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BMW in Bid for De Tomaso?
BMW AG is among the prospective buyers of Italy's De Tomaso supercar brand holding talks with bankruptcy court officials, according to the UILM union.
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BMW AG is among the prospective buyers of Italy's De Tomaso supercar brand holding talks with bankruptcy court officials, according to the UILM union.
Labor leaders say the negotiations were confirmed by the Italian Industry Ministry, which aims to begin the sale process by mid-October. UILM says some of De Tomaso's Italian investors also are interested in acquiring the marque.
Previous owner Gian Mario Rossignolo, a former Fiat SpA marketing executive, bought De Tomaso out of bankruptcy in 2009.
Rossignolo aimed to revive the brand with three models to be built at a rented Pininfarina plant near Turin. But no vehicles were ever produced, and the company filed for bankruptcy in July. Prosecutors arrested Rossignolo a week later in connection with a fraud probe.
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