DLA Piper advises HOF Capital on acquiring Porsche’s stakes in Bugatti Rimac
DLA Piper has advised HOF Capital Management, acting as part of an acquiring consortium alongside another investor, on the acquisition of Porsche’s equity stakes in Bugatti Rimac and Rimac Group. The transaction, which spans multiple jurisdictions, marks a change in ownership for the automotive joint venture behind the Bugatti brand.
Deal details
The deal comprised two distinct but interrelated projects. The first, referred to as Project Fast, involved the acquisition of Porsche’s 45% stake in Bugatti Rimac together with additional assets including real estate in France, intellectual property rights from Volkswagen and a historic Bugatti car collection. The second, Project Horizon, covered the acquisition of Porsche’s stake in parent company Rimac Group and a subscription for new shares. A central focus of the transaction was ensuring business continuity for Bugatti Rimac following its separation from the Porsche Group. The transaction touched Germany, France, Croatia, Italy, the United Kingdom and Luxembourg.
Bugatti Rimac was established in 2021 as a joint venture combining Bugatti with Rimac, under the leadership of Mate Rimac. Following completion, Bugatti Rimac will continue its development with HOF Capital Management as a strategic partner.
DLA Piper team
The cross-border DLA Piper team was led by corporate partners Murad M. Daghles (Düsseldorf) and Tim Lake (Birmingham), with Murad M. Daghles and Sohail Ali, partner (Leeds), acting as client relationship partners for HOF Capital Management. The broader team included counsel Philipp Kynast (corporate/M&A, Düsseldorf), legal director Mona Lemp (corporate, Dubai), senior associate Aarmaan Hussain (corporate/M&A, Birmingham) and associate Colin Kastrup (corporate/M&A, Düsseldorf), together with partner Jonathan Clarke (corporate, Birmingham). Additional support came from partners Dr Jan Geert Meents (IPT, Munich), Thilo von Bodungen (IPT, Munich),Burkhardt Führmeyer (IPT, Frankfurt) and Semin O (antitrust, Frankfurt), counsel Holger Kastler (IPT, Munich), and senior associates Gerald Baumgartner (IPT, Munich), Julia Goetzendorff (antitrust, Cologne) and Marisa Machacek (IPT, Frankfurt).
