Porsche is selling its stakes in Bugatti Rimac and Rimac Group to a consortium led by HOF Capital, with BlueFive Capital as the largest investor in Bugatti Rimac. The Global Legal Post says Linklaters is acting for Porsche, White & Case is acting for Bugatti Rimac and Rimac Group, and DLA Piper is advising the acquiring consortium. Porsche is selling a 45% stake in Bugatti Rimac and its 20.6% share in Rimac Group. The deal is expected to complete before the end of 2026, subject to regulatory clearances, and the price has not been disclosed.
To make sense of the deal, it helps to know what Bugatti Rimac is. In 2021, Porsche and Rimac set up a joint venture called Bugatti Rimac to house the Bugatti brand and combine it with Rimac’s electric performance technology. Porsche also held a separate stake in Rimac Group itself. This sale means Porsche is stepping back from both at once. After completion Rimac Group will take control of Bugatti Rimac and form a partnership with HOF Capital and BlueFive Capital to support future growth.
Porsche is under pressure after a 93% drop in operating profit in 2025, with margins falling sharply. The company has been dealing with weaker demand in China, pressure around electric vehicle strategy, and wider restructuring under new chief executive Michael Leiters. Porsche said the sale would help it focus on its core business. Basically, Porsche is freeing up capital rather than spreading itself thin across luxury investments.
The legal side is a good example of how big corporate deals are split across several firms. Linklaters is with Porsche because it is a long-standing client relationship. The Global Legal Post says the team is led by Düsseldorf M&A partners Ralph Wollburg and Andreas Zenner, alongside London M&A partner Rupert Cheyne. White & Case is on the Bugatti Rimac and Rimac Group side, led by London partners Daniel Turgel and Angus Nunn. DLA Piper is advising the buyer group, with corporate partners Tim Lake and Murad Daghles leading from Birmingham and Düsseldorf.
This sort of law firm line-up tells you something useful about high-end corporate work. When a company sells a valuable stake, the seller, the business being sold, and the buyers all need separate legal teams. Those teams then handle corporate structure, regulatory approvals, governance, financing, and the terms of whatever comes next. In this case, what comes next seems to be a new ownership model where HOF Capital becomes the largest Rimac shareholder alongside founder Mate Rimac, while BlueFive focuses on the Bugatti Rimac business.
The story is a reminder that when famous brands move, a small army of M&A lawyers moves with them!
Author: Joseph Stewart-Doyle
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