Cash-Strapped Bertone Loses Financial Savior

Legal battles, particularly those rooted in family or financial squabbles, can get ugly - and quickly so. Therefore, we don’t blame Domenico Reviglio for saying nient’altro, and ending his pursuit of purchasing Italian coachbuilder Carrozzeria Bertone

Reviglio, who had looked to add Bertone to his Keplero consortium, told Automotive News Europe that he had “no intention at all in being involved in legal battles.”

(Click through for more on how Bertone’s deal fell through)

This comes after Reviglio’s purchase of Bertone was blocked by a lawsuit filed by the daughters of Lili Bertone, the CEO of the Bertone consortium. On January 23, Lili Bertone exchanged a 65 percent stake in the coachbuilding operations and a 100 percent share of the styling wing in return for a 35 percent stake in Keplero. However, as she owns only 20 percent of Carrozzeria Bertone, Bertone’s sale of an additional 45 percent is considered illegal. That remainder is owned by Nube, an independent entity owned by the Bertone family.

Rather than work through the family and fiscal issues at play, Reviglio chose to walk away from the deal, leaving the entire Bertone consortium hanging in limbo. In the meantime, a bankruptcy court is scheduled to appoint commissioners in February to find a buyer for Bertone within the next two years.

+ Automotive News Europe: Bertone’s savior walks away (subscription may be required)