Porsche sells its Bugatti Rimac and Rimac Group stakes to HOF Capital consortium
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.
- 45%
- 20.6%
- 55%
What Happened
Porsche and Rimac Group established Bugatti Rimac as a joint venture in 2021, with Porsche holding a 45% stake and Rimac Group owning 55%. Porsche also held a 20.6% stake in Rimac Group. Under the transaction signed April 24, Porsche will fully divest these stakes to the HOF Capital-led consortium, which includes BlueFive Capital as its largest investor and other institutional investors from the US and EU.
Transaction agreements signed
Expected completion of the sale, subject to regulatory clearances
- Porsche 45%, Rimac Group 55%
- Porsche 20.6% stake
- Rimac Group takes control; HOF Capital consortium becomes largest shareholder in Rimac Group alongside Mate Rimac
“In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future. Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business.”
Why this matters
The deal shifts ownership of Bugatti and Rimac Group away from Porsche, bringing in new investors and giving Rimac Group control of Bugatti Rimac.
Terms in This Story
- Joint venture
- A business arrangement where two or more parties share ownership and control of a project or company.
- Stake
- An ownership interest or share in a company.
- Consortium
- A group of companies or investors that join together to undertake a common project or investment.
Summarised from the linked release; details can be imperfect — always verify against the original source.