29 Apr Porsche sells stakes in Bugatti Rimac and Rimac Group to international consortium
(Oilandgaspress) -– Porsche has agreed to sell its equity stakes in Bugatti Rimac and Rimac Group to a consortium led by HOF Capital, a New York-based investment firm. The relevant transaction agreements were signed on April 24th. Completion of the transaction remains subject to customary conditions precedent, including regulatory clearances by the relevant authorities.
Porsche and Rimac Group established Bugatti Rimac as a joint venture in 2021 to serve as home to the iconic Bugatti brand. In this joint venture, Porsche holds a minority stake of 45%, Rimac Group owns 55%. Porsche also holds a 20.6% stake in Rimac Group. As part of the transaction announced today, Porsche will fully divest its equity stakes in Bugatti Rimac and Rimac Group to the HOF Capital-led consortium.
This includes BlueFive Capital as its largest investor, as well as a group of institutional investors across the US and EU. Following completion, Rimac Group is set to take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital to support its continued growth. HOF Capital will additionally join Rimac Group as the largest shareholder alongside Mate Rimac, founder of Rimac and CEO of Bugatti Rimac. Subject to regulatory clearances, completion is expected to occur before the end of 2026. The parties have agreed to keep the financial terms of the transaction confidential, except where disclosure is required under applicable financial reporting obligations.
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