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HOF Capital, the fund co-founded by a scion of Egypt\u2019s billionaire Sawiris family, and BlueFive Capital are in talks to acquire Porsche AG\u2019s stake in the venture that owns the Bugatti supercar brand, people with knowledge of the matter said.<\/p>\n
The investors are in discussions to team up on a possible deal to buy Porsche\u2019s stake in Bugatti Rimac, a joint venture between the German sport-car maker and Croatia\u2019s Rimac Group, the people said.<\/p>\n
Read: Porsche to cut 1 900 jobs in Germany after EV demand slumps<\/p>\n
The potential transaction would also involve investors including HOF Capital buying Porsche\u2019s stake in Rimac Group itself, the people said.<\/p>\n
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\nThe deal could be valued at more than \u20ac1 billion ($1.2 billion), the people said, asking not to be identified because the information is private.<\/p>\n<\/blockquote>\n
As part of the transaction being envisioned, HOF Capital may provide fresh capital to Rimac Group to fund its expansion, according to the people.<\/p>\n
BlueFive is a private equity firm run by former Investcorp executive Hazem Ben-Gacem. HOF Capital was co-founded by Onsi Sawiris, who\u2019s the son of billionaire Naguib Sawiris and grandson of the late Egyptian construction magnate also named Onsi Sawiris.<\/p>\n
Read:
What I learnt about luxury at the Rolls-Royce school for chauffeurs
Volkswagen seeks to raise $9.4bn in Porsche IPO
Auto shows are \u2018so over,\u2019 brands want to debut luxury cars at Pebble Beach<\/p>\n\n\nADVERTISEMENT:<\/p>\n
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Bugatti Rimac, which is already controlled by Rimac Group, has owned the storied Bugatti brand since 2021. A deal could be reached as soon as the coming weeks, though the precise structure of a potential transaction is still being worked out and could change, the people said.<\/p>\n
A Rimac representative said the company is in talks with Porsche about the future ownership structure for Bugatti Rimac, adding that they can\u2019t comment on details since discussions are ongoing and an agreement hasn\u2019t yet been reached.<\/p>\n
Spokespeople for Porsche, HOF Capital and BlueFive declined to comment.<\/p>\n
\u00a9\u00a02025\u00a0Bloomberg<\/p>\n
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