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As Electric Aspirations Fade, Porsche Sells Its Stake in Bugatti
- Porsche will sell its 45% stake in Bugatti Rimac to a consortium led by New York-based HOF Capital and BlueFive Capital, marking a complete exit from the joint venture.
- Established in 2021 with Croatian Rimac Group holding a 55% majority stake, the joint venture now faces Porsche's strategic refocus. CEO Michael Leiters said the sale allows Porsche to "focus on the core business."
- A preliminary offer had valued the joint venture at $1.1 billion, though current financial terms remain undisclosed. Porsche is also divesting its 20.6% stake in Rimac Group as part of the transaction.
- Following the deal's completion, Rimac Group will take full operational control of Bugatti Rimac and form a strategic partnership with BlueFive Capital and HOF Capital to support the brand's growth.
- As the automotive industry faces consolidation pressure from rising costs and geopolitical disruption, automotive deal value reached more than $35 billion by third quarter last year, according to Bain & Company.
87 Articles
87 Articles
The Beijing Salon was the stage to make its premiere in society, but a month ago we had the opportunity to meet it in Spain, in an exclusive event for a group of specialized journalists of the world. There, in a small studio delicately illuminated, but with strict security measures in the entry of journalists so that it did not leak before time, was the new silhouette of the last Porsche.The first thing that catches is the shape. The Cayenne Cou…
kreiszeitung.de
hna.deThe sports car manufacturer Porsche withdraws from the Bugatti Rimac joint venture and sells its investments to an investor consortium.
Porsche and Rimac had established the Bugatti Rimac joint venture in 2021 to house the Bugatti brand
Porsche sells stake in sportscar maker Bugatti
DUBAI/FRANKFURT April 24 (Reuters) – Porsche has agreed to sell its stakes in sportscar makers Bugatti and Rimac to a consortium led by a U.S. fund linked to Egypt’s billionaire Sawiris family, the companies said on Friday. Under the deal, Porsche will divest its 45% stake in Bugatti Rimac, the joint venture set up in 2021 which owns the luxury carmaker, as well as a 20.6% stake in Rimac Group to a consortium led by U.S.-based HOF Capital, the…
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