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Benzinga
  • 7 hours ago
Porsche AG agreed to sell its 45% stake in Bugatti Rimac to a consortium led by HOF Capital, with BlueFive Capital as the largest investor. Porsche is also divesting its 20.6% stake in Rimac Group, marking a full exit from the Croatian automaker. Rimac Group will take full operational control. Porsche said the move refocuses the company on its core business amid pressure from tariffs, rising costs, and weaker China demand.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Porsche AG agreed to sell its 45% stake in Bugatti Rimac to a consortium led by HOF Capital
00:09with Blue5 Capital as the largest investor according to CNBC. Porsche and Rimac Group
00:15formed Bugatti Rimac in 2021 with Rimac holding a 55% majority stake and Porsche owning 45%.
00:23The deal also includes Porsche divesting its 20.6% stake in Rimac Group,
00:28marking a full exit from the Croatian automaker.
00:32Rimac Group will take full operational control and form a strategic partnership with the new
00:36investors. Porsche said the move refocuses the company on its core business as it faces pressure
00:42from tariffs, rising costs, and weaker demand in China. Shares fell 1.6% in early Friday trading.
00:49Financial terms were not disclosed. For all things money, visit Benzinga.com.
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