- Porsche currently owns 45 percent of Bugatti Rimac.
- Funds could support Rimac’s expansion and operations.
- Mate Rimac wants more control of Bugatti Rimac’s future.
In the world of high-end automotive alliances, ownership often seems as fluid as the promises that come with them. The complex business tie-up between Porsche, Rimac, and Bugatti could soon get a new part-owner.
New reports suggest that a venture capital fund, co-founded by a descendant of Egypt’s billionaire Sawiris family, is part of a group aiming to acquire Porsche’s stake in the Bugatti Rimac joint venture.
Read: Mate Rimac Is Going For Bugatti’s Reins, And Porsche Could Finally Let Go
Rimac and Bugatti came together in 2021. At the time, Mate Rimac held 37 percent of the Rimac Group, Porsche controlled 24 percent, Hyundai had 12 percent, and a mix of other investors accounted for the remaining 27 percent. Today, the Rimac Group owns 55 percent of Bugatti Rimac, with Porsche holding on to the remaining 45 percent.
A Billionaire Family Steps Forward
Mate Rimac has previously shown interest in joining forces with investors to buy out Porsche’s stake. Now, Bloomberg reports that HOF Capital, co-founded by a member of Egypt’s Sawiris dynasty, along with private equity firm BlueFive Capital, is in talks to acquire that 45 percent slice.
The deal could be worth more than €1 billion ($1.2 billion), and HOF may also inject fresh capital into the Rimac Group to support its expansion plans.
No One’s Talking Just Yet
While representatives from Porsche, HOF Capital, and BlueFive haven’t commented on the report, Rimac acknowledged that it is in talks with Porsche about the future ownership structure for Bugatti Rimac. It added that discussions are ongoing and that no agreement has been reached. It’s unclear if Mate Rimac is involved in the new bid.
Earlier this year, Mate Rimac spoke candidly about the challenges of steering a company with a complex ownership structure.
“I just want to be able to make long-term decisions, to make long-term investments, and to do things in a different way, without having to explain to 50 people,” he said. “When you negotiate with a corporation, there are so many factors. It’s families, it’s multiple families. It’s an emotional topic.”
