Porsche Sells Stakes in Bugatti Rimac and Rimac Group

Porsche AG announced on Thursday that it will divest its stakes in Bugatti Rimac and the Rimac Group, ending a partnership that began in 2021 and marking the conclusion of the Volkswagen Group's nearly three-decade involvement with the iconic Bugatti brand. The German automaker is selling its 45 percent share in the Bugatti Rimac joint venture, as well as its 20.6 percent holding in the Croatian-based Rimac Group, to a consortium led by New York-based investment firm HOF Capital. The group also includes Abu Dhabi-based BlueFive Capital as its largest investor, alongside institutional backers from the United States and Europe.

The transaction, whose financial terms were not disclosed, requires regulatory approvals and is expected to close by the end of the year. Once completed, Rimac Group will assume full operational control of Bugatti Rimac, partnering with the new investors to drive strategic expansion. HOF Capital, which previously invested in Rimac Group in 2022 and holds stakes in companies such as SpaceX and Anthropic, will become the largest shareholder in Rimac Group alongside founder Mate Rimac.

The move reflects Porsche's efforts to streamline operations amid financial...