Croatian hypercar manufacturer Rimac is actively seeking to acquire Porsche’s stake in Bugatti, aiming for full ownership of the iconic supercar brand. Mate Rimac, founder of Rimac and CEO of the Bugatti Rimac holding company, confirmed discussions with Porsche in statements to Bloomberg, emphasizing a desire to make “long-term decisions” without the complexities of involving multiple stakeholders.
The ownership structure of Bugatti and Rimac is intricate. Currently, both brands are held under a single entity known as Bugatti Rimac. Porsche holds a 45 percent stake in this holding company, while the Rimac Group retains the remaining shares. This arrangement follows a 2021 agreement that transferred Bugatti from the Volkswagen Group to Porsche and Rimac, during which Porsche increased its stake in the Rimac Group to 24 percent. The Rimac Group’s other key shareholders include Hyundai with 12 percent and Mate Rimac himself, who personally owns 34 percent.
In April 2023, Rimac reportedly offered Porsche at least €450 million (approximately A$815 million) for its stake in Bugatti Rimac. Rimac is optimistic about finalizing the deal by 2026, though uncertainties remain regarding the negotiations. He mentioned having the support of various unnamed international investors and private equity firms for his bid.
Negotiating with a major corporation poses numerous challenges, according to Rimac. He pointed out the emotional dimensions involved, particularly with the influential Porsche-Piëch family, who hold significant interests in both the Volkswagen Group and Porsche AG. The Volkswagen Group itself owns 75 percent of Porsche AG, adding another layer of complexity to the negotiations.
As Rimac seeks to reshape the future of Bugatti and Rimac, industry observers are watching closely to see how these discussions unfold. The outcome could significantly impact the luxury and performance automotive sectors, given Bugatti’s storied legacy and Rimac’s innovative approach to electric hypercars.
