By : Business Editor
Jordan Daily - Porsche AG will fully divest its stakes in Bugatti Rimac and Rimac Group, selling them to a consortium led by HOF Capital, with BlueFive Capital as the largest investor alongside US and EU institutional backers.
Bugatti Rimac was established in 2021, with Porsche holding 45% and Rimac Group 55%. Porsche also owned a 20.6% stake in Rimac Group. Following the transaction, Rimac Group will take control of Bugatti Rimac and partner strategically with BlueFive Capital and HOF Capital to drive future growth, BlueFive Capital said in a statement received by Jordan Daily.
Hazem Ben-Gacem, Founder and CEO of BlueFive Capital, said: “Bugatti is a monument to automotive obsession… we look forward to working alongside the entire Bugatti Rimac team to honor that legacy for generations to come.”
Dr. Michael Leiters, CEO of Porsche AG, stated: “We successfully laid the foundation for Bugatti’s future… Now, with the sale of our stake, we are focusing Porsche on the core business.”
Mate Rimac, CEO of Bugatti Rimac, added: “Porsche has been a crucial partner… we now have a structure that allows us to execute even faster on our long-term vision.”
