Overview
- Porsche said it will sell its 45% share of Bugatti Rimac and its 20.6% holding in Rimac Group to investors led by HOF Capital with BlueFive Capital involved.
- The companies said the deal needs regulatory approval and is expected to close by the end of the year, and they did not disclose the price.
- HOF Capital is set to become a leading shareholder in Rimac Group alongside founder Mate Rimac, which concentrates control of Bugatti Rimac under Rimac.
- Porsche CEO Michael Leiters said the move lets Porsche focus on its core business after profit pressure and costly electric-vehicle program changes.
- The sale ends almost three decades of Volkswagen family oversight of Bugatti and follows the 2021 joint venture that grouped Bugatti with Rimac.