HOF Capital, a fund co-founded by Onsi Sawiris of Egypt’s billionaire Sawiris family, and BlueFive Capital are in talks to acquire Porsche AG’s stake in the company that owns the Bugatti supercar brand.
- HOF Capital and BlueFive Capital are reportedly negotiating a joint acquisition of Porsche’s share in Bugatti Rimac.
- Discussions also include acquiring Porsche’s minority stake in Rimac Group, potentially involving a transaction exceeding €1 billion.
- HOF Capital might also provide Rimac Group with additional funding to assist in future expansions.
- The Sawiris family, specifically Onsi Sawiris, contributes significantly to this venture, enhancing their portfolio.
HOF Capital, a fund co-founded by Onsi Sawiris of Egypt’s billionaire Sawiris family, and BlueFive Capital are in talks to acquire Porsche AG’s stake in the company that owns the Bugatti supercar brand, according to Bloomberg.
The investors are discussing a joint bid for Porsche’s holding in Bugatti Rimac, the venture between German automaker Porsche and Croatia’s Rimac Group.
The talks also include a plan for HOF Capital and other investors to purchase Porsche’s minority stake in Rimac Group itself.
The transaction could be valued at more than €1 billion ($1.2 billion), the sources said, declining to be identified because the negotiations are private. Under the proposed structure, HOF Capital may also inject new funding into Rimac Group to support its expansion.
DON’T MISS THIS: Top 10 African countries that have the potential to be major tourist destinations
Sawiris-backed capital Sawiris Family Influence
BlueFive is a private equity firm led by former Investcorp executive Hazem Ben-Gacem. HOF Capital was co-founded by Onsi Sawiris, son of billionaire Naguib Sawiris. Naguib Sawiris recently announced a $50 billion push into U.S. real estate and is currently the richest man in North Africa.
Bugatti Rimac, controlled by Rimac Group, has owned the iconic Bugatti brand since 2021. A deal could be reached in the coming weeks, though the final structure is still being negotiated and may change.
A Rimac spokesperson confirmed that the company is in discussions with Porsche over Bugatti Rimac’s future ownership, but said no agreement has yet been reached.
