Porsche announced on Friday that it has reached an agreement to transfer its equity positions in two high-end sportscar businesses to a consortium led by U.S.-based HOF Capital, a group linked to Egypt’s Sawiris family.
Under the terms of the deal, Porsche will sell its 45% holding in Bugatti Rimac - the joint venture created in 2021 that owns Bugatti - as well as a 20.6% stake in Rimac Group to the HOF Capital-led consortium. The parties did not disclose the financial terms of the transaction.
The companies noted that previous reporting indicated Croatia’s Rimac had been valued at more than 2 billion euros. A person with knowledge of the matter said Bugatti Rimac carries a valuation in excess of $1 billion. Both Porsche and Rimac declined to comment on valuations.
The divestment occurs as Porsche conducts a broader strategic review after suffering a sharp drop in profitability. The carmaker reported a 93% fall in operating profit in 2025 and has seen group margins decline markedly, prompting management to reassess priorities.
"In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future," Porsche CEO Michael Leiters said in the companies' joint statement. "Now, with the sale of our stake, we are focusing Porsche on the core business."
Market reaction was modest: shares fell 1.5% on Friday.
The announcement did not provide further detail on the composition of the consortium beyond HOF Capital's leadership or on the timetable for closing the transaction. Porsche and Rimac also declined to expand on commentary regarding the valuation figures cited.
As presented by the companies, the sale transfers Porsche’s holdings in both the Bugatti Rimac joint venture and a portion of Rimac Group to the HOF Capital-led investor group, while leaving other operational details and future plans for Bugatti and Rimac unspecified by the parties.