Porsche AG has agreed to divest its holding in Bugatti Rimac to an investor group led by private investment firm HOF Capital, as the carmaker sharpens its focus on core operations amid declining profitability, according to a report by Reuters.
The transaction will see Porsche sell its 45% interest in the joint venture, which was established in 2021 and controls the Bugatti marque as well as a minority stake in Rimac Group. Financial terms have not been disclosed, although the business is underst...
Continue Reading
Sign up for FREE to read the full article and access 147K+ alternative investment headlines.
Alternative Investment News