Hamburg – Dr. Ing. h.c. F. Porsche AG and Rimac Automobili d.o.o. have agreed to form a joint venture that will include Bugatti. Oliver Blume and Mate Rimac announced the name of the new hypercar manufacturer on Monday: Bugatti Rimac.
The joint venture will be headquartered in Zagreb (Croatia) and is set to be established in the fourth quarter of 2021. Prior to that, the competition authorities in several countries have to give their approval. Rimac will hold 55% of the shares in the Bugatti Rimac joint venture and Porsche 45%. Porsche has held a stake in Rimac as a minority shareholder since 2018.
Bugatti will initially be brought into the joint venture through its current owner, Volkswagen. The equity interest in the joint venture will then be transferred to Porsche. Bugatti Rimac combines the DNA of the iconic Bugatti and Rimac marques. The joint business will be an automotive company that is attractive to customers and employees alike.
An international CMS team headed by lead partners Dr Hilke Herchen and Dr Jacob Siebert advised Volkswagen and Porsche on all aspects, with CMS teams in Croatia, France and Luxembourg also being involved. In March, a team from CMS Croatia advised Porsche on increasing its stake in Rimac Automobili d.o.o.
The global presence of the Volkswagen Group made it necessary to register the joint venture for merger control purposes in a number of jurisdictions. The team led by competition law partner Christoff Soltau thus worked closely with CMS competition law specialists in various countries.
CMS Germany
Dr Hilke Herchen, Lead Partner, Hamburg
Dr Jacob Siebert, Lead Partner, Hamburg, both Corporate/M&A
Christoff Soltau, Partner, Hamburg, Competition & EU
Dr Heino Büsching, Partner, Hamburg, Tax
Dr Nikolas Gregor, Partner, Hamburg, IP
Dr Michael Kraus, Partner, Stuttgart, TMC
Dr Matthias Löhle, Counsel, Frankfurt/Main
Dr Frederike Volkmann, Counsel, Hamburg
Christoph Hempel, Associate, Hamburg, all Corporate/M&A
Tobias Duhe, Senior Associate, Hamburg
Dr Denis Schlimpert, Senior Associate, Hamburg, both Competition & EU
CMS Croatia
Marija Zrno
Ivan Sostaric
Karmen Sinožic
Tamara Jeliz Kazic
Marija Musec
Hrvoje Bardek
CMS France
Alexandra Rohmert
Caroline Froger-Michon
Margaux Deuchler
Arnaud Valverde
Camille Baumgarten
CMS Luxembourg
Gérard Maitrejean
Angelique Eguether
Frédéric Feyten
Victoria Gros
Cedric Dvoratchek
Press Contact
presse@cms-hs.com
