Porsche has reached an agreement to sell portions of its ownership in the high-performance car businesses Bugatti Rimac and Rimac Group to a consortium led by a U.S. fund co-founded by a member of Egypt's Sawiris family, a statement from one of the acquiring investors said on Friday.
According to BlueFive Capital - which identified itself as one of the investors in the purchasing group - the German automaker will dispose of a 45% stake in Bugatti Rimac, the joint venture that houses the storied Italian marque, and will also sell a 20.6% holding in Rimac Group.
The investment firm did not reveal the financial terms of the transaction. A previous report in 2022 put a valuation of over 2 billion euros on Croatia's Rimac, but BlueFive did not provide today's price or terms in its statement.
Porsche leadership frame the sale as a strategic refocus. In the investor statement quoted by BlueFive, Porsche Chief Executive Michael Leiters said: "In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future. Now, with the sale of our stake, we are focusing Porsche on the core business."
The joint venture between Porsche and Rimac was formed in 2021, a pairing that at the time was positioned as combining Bugatti's hypercar heritage with Rimac's capabilities in electric powertrain and advanced vehicle technologies. Oliver Blume, Porsche's then CEO, had described the tie-up as bringing together those complementary strengths.
Financial pressure and corporate priorities. The deal comes as Porsche faces mounting pressure to reduce costs and free up capital under its new chief executive. The company reported a steep decline in profit margins last year, falling to 1.1% from 14.1% in 2024, a slide the company attributed in part to U.S. tariffs and weakening demand in China.
Rimac Group disclosed in November that it was in discussions with Porsche over the structure of the joint venture, a negotiation that has now led to this change in ownership and governance.
Who is buying. BlueFive Capital said it is one of the investors in the consortium led by HOF Capital, a U.S.-based fund co-founded by Onsi Sawiris. BlueFive described itself as having $15 billion in assets under management. The firm, launched in November 2024, operates offices across the Gulf region as well as in London and Beijing, and provides private equity, real estate, infrastructure and financial products to private wealth, institutional and retail clients.
BlueFive said Rimac Group will assume control of Bugatti Rimac once the transaction closes and will enter a strategic partnership with BlueFive Capital and HOF Capital to support the business' ongoing growth.
Practical note. The investor statement included a currency reference: $1 = 0.8560 euros.
This transaction represents a reallocation of Porsche's investments away from the high-end hypercar joint venture and back toward its designated core activities, while transferring operating control of the combined Bugatti Rimac entity to Rimac Group alongside new financial partners.