Table of Contents
A Sawiris-backed investment firm and a new private equity player in the Gulf are in talks to buy Porsche’s stake in the company that owns the Bugatti hypercar brand, in a deal that could top $1.2 billion, according to people familiar with the discussions.
The potential buyers are HOF Capital, a venture firm co-founded by Onsi Sawiris, and BlueFive Capital, which is led by former Investcorp executive Hazem Ben-Gacem. The talks center on Porsche’s holding in Bugatti Rimac, the joint venture that has controlled Bugatti since 2021, and may also include Porsche’s minority stake in Rimac Group itself, the sources said.
No deal has been signed, and the shape of the transaction could still change. A Rimac spokesperson confirmed that discussions with Porsche about Bugatti Rimac’s future ownership are ongoing, but said there is no final agreement.
Bugatti Rimac was created after Volkswagen’s Porsche brand and Croatia’s Rimac Automobili struck a partnership that handed day-to-day control of Bugatti to Mate Rimac. Under the structure announced in 2021, Rimac holds 55% of the joint venture and Porsche holds 45%.
The price tag being discussed, more than 1 billion euros, roughly $1.2 billion, would reflect both the value of Porsche’s stake and the possibility of fresh capital to fuel Rimac Group’s expansion plans, according to reporting based on the negotiations.
BlueFive is a relatively new entrant that has been pitching itself as a Global South investment platform with a focus that ranges from private equity to infrastructure. Ben-Gacem previously helped run Investcorp, one of the region’s best-known alternative investment firms.
HOF Capital, meanwhile, is tied to Egypt’s Sawiris business dynasty through Onsi Sawiris, a member of the billionaire family whose interests span construction, telecoms and investment. If the talks succeed, the deal would insert Middle East-linked capital deeper into one of the industry’s most exclusive corners, where Bugatti’s heritage meets Rimac’s battery and performance technology.
