Rimac Finalizes Bugatti Takeover, Ending All VW Ownership
Mate Rimac becomes the new president of Bugatti after a consortium of investors finalized the purchase of Porsche's shares in Rimac Group and Bugatti Rimac joint venture.
Key Takeaways
- Mate Rimac becomes the new president of Bugatti after the takeover.
- Porsche has earned €1 billion from the deal.
- Mate Rimac spent more than 18 months trying to buy out Porsche.
- Christophe Piochen will step down as Bugatti Automobiles president.
- Marko Brkljačić will serve as Bugatti Rimac’s COO.
What Does the Takeover Mean for Bugatti?
The takeover means that Mate Rimac will have full control over the future direction of Bugatti, allowing him to make decisions without needing to pass them through the Porsche-Piëch family.
This is a significant change for Mate Rimac, who had previously expressed frustration with the complexity of making long-term decisions and investments for the company.
How Did the Deal Come About?
The deal was first announced in April, and a consortium of investors, including HOF Capital, BlueFive Capital, and other US and European investors, has finalized the purchase of Porsche’s 21 percent shareholding in Rimac Group and its 45 percent stake in the Bugatti Rimac joint venture.
Mate Rimac had been trying to find a way to obtain greater control over the future of the Bugatti brand for more than 18 months.
What Does Porsche Get Out of the Deal?
Porsche isn’t walking away from the deal empty-handed, earning €1 billion from the same deal, including €250 million that will be dedicated to funding pension obligations.
What’s Next for Bugatti?
With the deal now finalized, Mate Rimac can steer Bugatti’s future direction more easily, and the company is expected to continue producing high-performance vehicles.
Specifications
| Specification | Value |
|---|---|
| Porsche’s earnings from the deal | €1 billion |
| Amount dedicated to funding pension obligations | €250 million |
Frequently Asked Questions
Q: Who is the new president of Bugatti?
Mate Rimac is the new president of Bugatti.
Q: How much did Porsche earn from the deal?
Porsche earned €1 billion from the deal.
Q: Who will serve as Bugatti Rimac’s COO?
Marko Brkljačić will serve as Bugatti Rimac’s COO.
