DLA Piper advises HOF Capital Management on the acquisition of Porsche’s equity stakes in Bugatti Rimac

Global law firm DLA Piper has advised HOF Capital Management (acting as part of an acquiring consortium with another investor) on the acquisition of Porsche’s equity stakes in Bugatti Rimac d.o.o. and Rimac Group d.o.o.

Bugatti has stood for automotive perfection at the highest level for over a century. As the creator of the fastest and most exclusive hypercars in the world – including the legendary Chiron and the Tourbillon – the brand combines French craftsmanship with uncompromising engineering. With vehicles reaching top speeds of over 400 km/h and produced in limited numbers at prices of several million euros, Bugatti continually redefines the boundaries of what is technically possible in automotive engineering.

In 2021, Bugatti Rimac was founded as a strategic joint venture combining the iconic tradition of Bugatti with Rimac’s revolutionary electric mobility expertise. Under the leadership of Mate Rimac, one of the most visionary entrepreneurs in the automotive industry, the company is developing the next generation of high-performance vehicles that unite luxury, sustainability and ground-breaking technology. With completion of the transaction, Bugatti Rimac embarks on its future together with HOF Capital Management as strategic partner.

DLA Piper advised HOF Capital Management on this highly complex, cross-border transaction with a particular focus on Corporate, IP, IT and Commercial aspects. The transaction comprised two distinct but interrelated projects: Project Fast, involving the acquisition of Porsche’s 45% stake in Bugatti Rimac d.o.o. together with further assets including real estate in France, IP rights from Volkswagen and a historic Bugatti car collection; and Project Horizon, involving the acquisition of Porsche’s stake in the parent company Rimac Group d.o.o. and a subscription for new shares. The focus was on ensuring business continuity following the separation from Porsche Group. The transaction spanned multiple jurisdictions, including Germany, France, Croatia, Italy, the United Kingdom and Luxembourg.

HOF Capital Management is a New York based global multi stage venture capital firm that invests in ambitious entrepreneurs and innovative companies across a range of sectors. Together with its consortium partner, HOF Capital Management supports the strategic expansion of the Bugatti Rimac Group.

HOF Capital Management views Bugatti as a category-defining brand whose long-term value compounds with patience, craftsmanship, and disciplined stewardship HOF Capital Management approaches the opportunity as more than simply a financial transaction, committing to work alongside the entire Bugatti Rimac team to honour Bugatti’s legacy for generations to come. Together, the new partners will support continued investment in technology and product, preserve and elevate the craftsmanship that defines Bugatti, and provide the strategic and financial partnership needed to capitalise on the opportunities ahead.

DLA Partner, Murad M. Daghles, commented: “This transaction was a highly complex re-organisation at the intersection of luxury automotive manufacturing and advanced mobility technology. Its success depended on DLA Piper’s unrivalled global footprint, seamless cross‑border and cross-practice capabilities along with a deep understanding of the automotive sector. Drawing on coordinated teams across Europe and the UK, we were able to advise key client HOF Capital Management on a multi‑layered deal involving complex M&A, intellectual property, IT and transitional service agreements as well as asset transfer elements. We are proud to have supported our client on a transaction that will underpin Bugatti‑Rimac Group’s next phase of strategic growth.”

The cross-border DLA Piper team comprising Dr Murad M. Daghles (Düsseldorf) and Sohail Ali (Leeds) as client relationship partners for HOF Capital Management was led by corporate partners Dr Murad M. Daghles and Tim Lake (Birmingham). The broader team comprised Counsel Dr. 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). They were supported by a core team consisting of Partners Dr Jan Geert Meents (IPT, Munich), Dr Thilo von Bodungen (IPT, Munich), Dr 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).