Key Takeaways
- • Porsche has agreed to sell its complete stakes in Bugatti Rimac (45%) and Rimac Group (20.6%) to a consortium led by HOF Capital, marking a full exit from the Croatian electric hypercar venture established in 2021.
- • The acquisition consortium includes HOF Capital (New York-based), BlueFive Capital (Abu Dhabi-based, largest investor), and institutional investors across the U.S. and EU; financial terms remain confidential.
- • Following completion, Rimac Group will assume full operational control of Bugatti Rimac and establish a strategic partnership with HOF Capital and BlueFive Capital to drive future growth.
- • The divestment reflects Porsche's strategic pivot to focus on "core business" amid profitability pressures—the company reported over $5 billion less in 2025 profits versus 2024—and represents the end of Volkswagen Group's influence over Bugatti dating to its 1998 acquisition of the French brand.
- • Transaction agreements were signed on April 24, 2026, with completion expected before year-end 2026, subject to regulatory clearances; Porsche shares dropped 1.6% on the announcement.
Summary
Porsche AG has agreed to divest its complete equity stakes in both the Bugatti Rimac joint venture and the broader Rimac Group to a consortium led by HOF Capital, a New York-based investment firm. The transaction agreements were signed on April 24, 2026. Porsche's stakes include a 45% minority holding in Bugatti Rimac (the joint venture established with Rimac Group in 2021) and a 20.6% stake in Rimac Group itself, representing a full operational and financial exit from the Croatian electric hypercar ecosystem.
The acquiring consortium is led by HOF Capital, with BlueFive Capital serving as its largest investor. The investment group additionally includes institutional investors across the United States and European Union. HOF Capital, co-founded by a member of Egypt's Sawiris billionaire family, previously invested in Rimac in 2022. BlueFive Capital is led by Hazem Ben-Gacem, a former executive at alternative investment firm Investcorp. Upon transaction completion, Rimac Group will take full operational control of Bugatti Rimac and establish a strategic partnership with HOF Capital and BlueFive Capital to support continued growth. Mate Rimac, founder and CEO of Rimac Automobili and CEO of Bugatti Rimac, will remain involved as a significant shareholder alongside HOF Capital.
The sale reflects Porsche's strategic repositioning amid significant financial headwinds. CEO Michael Leiters stated the divestment demonstrates that "we will focus Porsche on the core business." The company reported over $5 billion in profit decline from 2024 to 2025, prompting a portfolio restructuring in response to slowing growth, rising costs, and margin pressure from tariffs and geopolitical disruption. The transaction also marks the end of Volkswagen Group's involvement with Bugatti, which began with the parent company's acquisition of the French hypercar brand in 1998. Financial terms of the transaction remain confidential per the parties' agreement, though disclosure may occur under applicable financial reporting obligations. Completion is expected before the end of 2026, subject to customary regulatory clearances. Porsche shares declined 1.6% in early trading following the announcement.
The acquiring consortium is led by HOF Capital, with BlueFive Capital serving as its largest investor. The investment group additionally includes institutional investors across the United States and European Union. HOF Capital, co-founded by a member of Egypt's Sawiris billionaire family, previously invested in Rimac in 2022. BlueFive Capital is led by Hazem Ben-Gacem, a former executive at alternative investment firm Investcorp. Upon transaction completion, Rimac Group will take full operational control of Bugatti Rimac and establish a strategic partnership with HOF Capital and BlueFive Capital to support continued growth. Mate Rimac, founder and CEO of Rimac Automobili and CEO of Bugatti Rimac, will remain involved as a significant shareholder alongside HOF Capital.
The sale reflects Porsche's strategic repositioning amid significant financial headwinds. CEO Michael Leiters stated the divestment demonstrates that "we will focus Porsche on the core business." The company reported over $5 billion in profit decline from 2024 to 2025, prompting a portfolio restructuring in response to slowing growth, rising costs, and margin pressure from tariffs and geopolitical disruption. The transaction also marks the end of Volkswagen Group's involvement with Bugatti, which began with the parent company's acquisition of the French hypercar brand in 1998. Financial terms of the transaction remain confidential per the parties' agreement, though disclosure may occur under applicable financial reporting obligations. Completion is expected before the end of 2026, subject to customary regulatory clearances. Porsche shares declined 1.6% in early trading following the announcement.
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