Egyptian firm buys stake in one of the world’s most luxurious car brands as Porsche exits

A consortium led by investment firm HOF Capital has acquired a stake in the company behind the iconic Bugatti brand, indicating a significant shift in the ownership structure of one of the world's most prestigious automakers.

• A consortium led by HOF Capital is acquiring stakes in Bugatti Rimac, signaling a major ownership shift for the luxury automaker.
• Porsche AG will fully exit Bugatti Rimac by selling its 45% stake and also divesting its 20.6% holding in Rimac Group.
• BlueFive Capital, based in Abu Dhabi, joins as the largest investor, with additional support from institutional investors in the US and Europe.
• Rimac Group will gain control of Bugatti Rimac and partner strategically with HOF and BlueFive to drive expansion.

The transaction will see Porsche AG fully divest its stake in Bugatti Rimac, a joint venture founded in 2021 with Rimac.

Porsche presently owns 45% of the brand, with Rimac Group controlling the remaining 55%.

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In addition to selling its Bugatti Rimac investment, Porsche will sell its 20.6% stake in Rimac Group as part of the deal.

The purchase consortium is led by HOF Capital, which was co-founded by the Egyptian businessman, Onsi Sawiris, a member of Egypt's well-known wealthy family.

BlueFive Capital, an Abu Dhabi-based private equity firm, has joined the deal as the largest investor.

The consortium will also comprise a mix of institutional investors from the United States and Europe, reflecting the substantial worldwide interest in the luxury automotive market.

Rimac Group will take control of Bugatti Rimac and develop a strategic relationship with HOF Capital and BlueFive Capital to assist its continued expansion.

In addition, HOF Capital will become the largest shareholder in Rimac Group, alongside Mate Rimac, the company's founder and CEO, as seen on the Porsche newsroom.

The transaction's agreements, which were touted back in December 2025, were officially signed on April 24, according to comments released Friday. However, the purchase is still subject to regulatory approvals and is expected to be completed by the end of 2026.

“In setting up the joint venture Bugatti Rimac together with Rimac Group, we successfully laid the foundation for Bugatti’s future. As an early-stage investor of Rimac Group, Porsche made a significant contribution to developing Rimac Technology into an established Tier-1 automotive technology company,” Dr Michael Leiters, CEO of Porsche AG, stated.

“Now, with the sale of our stake, we demonstrate that we will focus Porsche on the core business. We would like to thank Mate Rimac and his team for the constructive and trusting cooperation over the past years,” he added.

Sawiris family and HOF Capital

HOF Capital was co-founded by Onsi Sawiris, the father of billionaire Naguib Sawiris, and the former patriarch of the Egyptian billionaire family.

At the same time, BlueFive is a private equity firm led by Hazem Ben-Gacem, formerly an executive at Investcorp.

The group is known for investing in fast-growing technological startups and ambitious enterprises across numerous industries.

Since its founding, HOF Capital has concentrated on early and growth-stage investments, particularly in fintech, enterprise software, and developing digital platforms.

In recent years, HOF Capital has broadened its focus, taking part in larger and more significant transactions.

The group’s co-founder, Naguib Sawiris, in October last year, announced a $50 billion push into U.S. real estate, and is currently the richest man in North Africa.