Porsche has completed the sale of its holdings in Bugatti Rimac and Rimac Group, ending its involvement in the Croatia-based electric hypercar business.
The German carmaker sold its 45% stake in Bugatti Rimac and its 20.6% holding in Rimac Group after receiving regulatory approvals.
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The purchasing consortium is headed by HOF Capital, a US-based investment firm, with BlueFive Capital serving as its biggest backer alongside several other institutional investors spanning the US and Europe.
Porsche and the buyer group entered into the agreements in April this year.
The deal is expected to generate around €1bn ($1.16bn) for the Porsche Group. Of that amount, €250m has been allocated to further strengthen the company’s pension obligations.
Reflecting the expected cash proceeds and the additional pension funding, Porsche has increased its forecast for the automotive net cash flow margin for the 2026 financial year to 5.5-7.5%, up from the previously projected 3-5%.
The earlier guidance, published in the half-year financial report, did not include any effect from the sale.
Bugatti Rimac was established in 2021 as a joint venture between Porsche and Rimac Group, combining Bugatti’s hypercar engineering with Rimac Group’s electric vehicle technology.
Following completion, Rimac Group retains its 55% stake, while Porsche’s former share has passed to the new consortium.
Bugatti Rimac CEO Mate Rimac said: “I am really happy that the deal with Porsche and HOF Capital has been completed. Porsche has been a very valuable partner for all these years, enabling us to build strong foundations for the future of the brand.”
Changes have also been announced in the leadership of Bugatti Rimac.
Christophe Piochon is leaving his positions as president of Bugatti Automobiles and chief operating officer of Bugatti Rimac.
Mate Rimac, who has been CEO of Bugatti Rimac since 2021, will also take on the role of president of Bugatti Automobiles.
Marko Brkljačić, formerly COO at Rimac Technology, has been appointed COO of Bugatti Rimac.
The divestment forms part of Porsche’s broader push to concentrate on its core operations.
Last month, the automaker agreed to sell MHP, its management and IT consulting arm, to Tata Consultancy Services at an enterprise value of €320m.
Parent company Volkswagen is meanwhile pursuing its own restructuring, having approved Future Plan 2030 earlier this month, which will cut a further 50,000 jobs group-wide, bringing total planned reductions to 100,000 by the decade’s end.
