Investors tied to one of Egypt’s most prominent billionaire families are in discussions to acquire Porsche AG’s stake in the company behind the Bugatti supercar brand, according to published reports. The talks center on a potential transaction that could reshape ownership of Bugatti Rimac, the joint venture formed between Porsche and Croatia-based Rimac Group.
HOF Capital, a fund co-founded by Onsi Sawiris, and BlueFive Capital are said to be exploring a joint bid for Porsche’s holding in Bugatti Rimac. The discussions also extend beyond the Bugatti venture itself, with plans that could include the purchase of Porsche’s minority stake in Rimac Group, the electric performance car and technology company that controls Bugatti Rimac.
People familiar with the matter have indicated that the overall transaction could be valued at more than €1 billion, or about $1.2 billion. The negotiations are described as private, and the final structure remains under discussion. As part of the proposed arrangement, HOF Capital may also provide fresh capital to Rimac Group to support its ongoing expansion efforts.
BlueFive Capital is a private equity firm led by Hazem Ben-Gacem, a former executive at Investcorp. HOF Capital was co-founded by Onsi Sawiris, a member of Egypt’s influential Sawiris family and the son of billionaire businessman Naguib Sawiris. Naguib Sawiris has recently outlined plans for a major investment push into U.S. real estate valued at $50 billion and is widely regarded as the wealthiest individual in North Africa.
Bugatti Rimac has owned the storied Bugatti brand since 2021, following the creation of the joint venture that combined Porsche’s automotive experience with Rimac Group’s focus on high-performance electric vehicles and advanced technology. The company is controlled by Rimac Group, with Porsche holding a significant but non-controlling interest.
A spokesperson for Rimac has confirmed that discussions are taking place with Porsche regarding the future ownership structure of Bugatti Rimac. However, no agreement has been finalized. While a deal could be reached in the coming weeks, the parties involved continue to negotiate, and the terms remain subject to change.
