Porsche has completed its exit from Rimac Group and Bugatti Rimac, transferring its shareholdings to an investor consortium led by New York-based HOF Capital.
The deal, first announced in April, covers Porsche’s 45% stake in Bugatti Rimac and its roughly 21% holding in Rimac Group. BlueFive Capital is the consortium’s largest investor, alongside institutional investors from the US and Europe.
Rimac Group retains its 55% majority stake in Bugatti Rimac following completion of the transaction.
Porsche and Rimac formed Bugatti Rimac in 2021, bringing the Bugatti marque under a joint venture led by Mate Rimac. Porsche had also been an investor in Rimac Group as the Croatian company expanded its electric hypercar and EV technology operations.
The ownership change is accompanied by a management reshuffle at Bugatti.
Mate Rimac, already chief executive of Bugatti Rimac, will become president of Bugatti Automobiles. Christophe Piochon is stepping down as Bugatti president and chief operating officer of Bugatti Rimac.
Former Rimac Technology chief operating officer Marko Brkljacic is set to take the same role at Bugatti Rimac, while Bugatti managing director Hendrik Malinowski is planned to become chief commercial officer.
The changes come as Bugatti prepares the Tourbillon plug-in hybrid for production and ramps up its new La Manufacture facility in Molsheim, France.
Porsche, meanwhile, has said the Rimac divestment forms part of its wider move to refocus resources on its core sports-car business.
