17.03.2008 SEVEN POTENTIAL BIDS FOR BERTONE

The arrival of the Alfa 8C Competizione-based Bertone B.A.T. 11 concept sportscar has provided a welcome relief from the machinations engulfing the now bankrupt company.

While the automotive world’s attention has in the last fortnight been focused on Bertone’s sensational new B.A.T. 11 concept car, the three commissioners now running the company on behalf of the Turin bankruptcy court have filed their initial report.

The arrival of the Alfa 8C Competizione-based Bertone B.A.T. 11 concept sportscar has provided a welcome relief from the machinations engulfing the now bankrupt company, and focused on the fact that the famous Carrozziera still has design talent and ability in abundance. However even the presentation of B.A.T. 11 itself proved to be a saga with Chairwoman Lilli Bertone stating that the company wouldn’t appear in Geneva earlier this month before her daughter Marie-Jeanne immediately contradicted her. In the end the B.A.T. 11 made its debut in Geneva, but instead of at the international motor show, it was unveiled at a designers party in the city.

Meanwhile last week the three commissioners appointed to run Bertone Spa reported back to the tribunal with their initial outline findings as they attempt to salvage a future for the company, the document running to 132 pages. The Italian press has feverishly speculated that up to seven potential bids have been received for the 96-year-old carrozzeria which has stood idle since its last contract ran out in December 2005.

Automotive New Europe reported that they had spoken to one of the commissioners last week. “In this phase, we are just seeing lawyers and merchant banks, but we do not know yet who they represent," he told ANE. “In just one case, we were told the name of the company, but we had to sign a confidentiality agreement that even prevents us from disclosing this name to the court," the commissioner said. ANE suggested that the whole process of finding a buyer could take around three months.

The commissioners were appointed by a Turin tribunal to sort of Bertone’s future after two attempts to sell the company at the end of last year foundered in acrimony. The Bertone family, who control most of the company and its voting shares, fell out after Lilli put together a deal to sell it to turnaround expert Dominenco Reviglio; a deal which was announced at the beginning of January. Lilli’s two daughters, Marie-Jeanne and Barbara, the latter a previous managing director of Bertone, vociferously objected and legal action ensued.
 

© 2008 Interfuture Media/Italiaspeed