Fiat in bidding war for Bertone
July 14th, 2009 by Bill Cawthon
Fiat S.p.A. is making a non-binding offer to buy bankrupt Italian styling studio and contract manufacturer Carrozzeria Bertone S.p.A. Fiat is competing with Italian entrepreneur Gianmario Rossignolo, Chinese automaker FAW Group Corp. and an unnamed Spanish consortium.
Bertone, founded in 1912, has a long history of notable automotive designs for clients like Fiat, Alfa Romeo, Ferrari, Lamborghini, Volvo and Mercedes-Benz. The company began having financial problems are few years ago and entered the Italian equivalent of Chapter 11 bankruptcy in 2007.
The bidding deadline for Bertone is this Thursday, July 16. Bankruptcy court administrators plan to select a winner by the end of the month.
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