De Tomaso sold to Chinese company after Luxembourg investors fail to pay up ... - CarAdvice
Famed Italian automotive marque De Tomaso has been sold for the second time in just over a month, this time to Chinese firm Consolidated Ideal Team Venture. In March we reported that De Tomaso had been sold to Swiss company L3 Holdings for 2 million euros ($2. 8 million). L3 Holdings and its Luxembourg-based financial backers were chaired by Gerard Lopez, the current team principal of the Lotus Formula One team. This time around, Consolidated Ideal Team Venture, an unsuccessful participant in the initial auction, won with a bid of just over 1 million euros ($1. 4 million). Europe Online quotes Giampaolo Salsi, an Italian lawyer representing the Chinese company, as saying that Consolidated Ideal Team Venture plans on making De Tomaso-branded vehicles in China. The fate of De Tomaso’s current staff and Turin factory under its new owners is unknown. Consolidated Ideal Team Venture is reportedly based in Hong Kong, but is registered in the Virgin Islands, a well known tax haven. Source: www.caradvice.com.au
