Mate Rimac announced a billion-euro deal! Porsche sold its entire stake in Bugatti Rimac

In 2021, Porsche and the Rimac Group founded Bugatti Rimac as a joint venture to serve as a home for the iconic Bugatti brand. In the joint venture, Porsche holds a minority share of 45%, while Rimac Group owns 55% of the share. Porsche also holds a 20.6% stake in Rimac Group.

As part of the transaction announced today, Porsche will sell its shares in Bugatti Rimac and Rimac Grupa to a consortium led by HOF Capital while Rimac Technology will remain the supplier. of key components for Porsche and other brands of the Volkswagen concern. The consortium of investors includes BlueFive Capital as the largest investor, as well as a group of institutional investors from the USA and Europe.

After the completion of the transaction, Rimac Group will take control of the entire Bugatti Rimac, which is also the 100% owner of Bugatti Automobiles in France, through a strategic partnership with HOF Capital and BlueFive Capital with the aim of supporting continuous growth. HOF Capital will additionally join the Rimac Group as the largest shareholder alongside Mata Rimac, founder and CEO of Bugatti Rimac.

With regard to regulatory approvals, the completion of the transaction is expected by the end of 2026. The parties involved have agreed to keep the financial terms of the transaction confidential, except when their disclosure is required pursuant to applicable financial reporting obligations.

dr. Michael Leiters, CEO of Porsche AG, stated that during the creation of the Bugatti Rimac joint venture, together with the Rimac Group, they successfully created the foundations for the future of the Bugatti brand. And as an early investor in the Rimac Group, Porsche made a significant contribution to the development of Rimac Technology into a Tier-1 automotive technology company. Now, with the sale of our share, we want to show that we will focus on the core business of Porsche. We would like to thank Mata Rimac and his team for the constructive cooperation and mutual trust during the past years.

– Porsche was our key partner and we are extremely grateful for its role in establishing Bugatti Rimac. With the strong foundations that his support provided, we now have a structure that enables us to realize our long-term vision even faster. We look forward to working with our new partners as we continue to cooperate with Porsche and other members of the Volkswagen Group as a supplier. of key components such as batteries and drive systems – he stated Mate RimacCEO of Bugatti Rimac.

– For more than a century, Bugatti has been a brand whose tradition and innovation work at the highest level. We are proud to build a new chapter through cooperation with Mata Rimec and his team, combining disciplined growth with a masterful tradition and originality that remain unsurpassed. Bugatti is a symbol of automotive passion, created by Ettore Bugatti who strives for a combination of beauty and performance. BlueFive Capital approaches this opportunity not only through a financial transaction, butć we look forward to working together with the entire Bugatti Rimac team in čing this legacy for generations yet to come – he said Hisham ElhaddadSuosnivač the Managing Partner of HOF Capital.