White & Case advises Rimac Group and Bugatti Rimac on landmark strategic transactions

Global law firm White & Case LLP has advised Rimac Group and Bugatti Rimac on the sale by Porsche of its stakes in the group to an international consortium led by HOF Capital.

As part of the transaction, Porsche will fully divest its equity stakes in Bugatti Rimac and Rimac Group to the HOF Capital-led consortium which includes BlueFive Capital as its largest investor, as well as a group of institutional investors across the US and EU.

"This transaction demonstrates our ability to seamlessly navigate complex cross-border tech M&A transactions in a way that solidifies White & Case's position as a true leader in the market", said Daniel Turgel, partner and Co-head of the Firm's Global Technology Industry Group.

Following completion, Rimac Group is set to take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital to support its continued growth. HOF Capital will additionally join Rimac Group as the largest shareholder alongside Mate Rimac, founder of Rimac and CEO of Bugatti Rimac. 

White & Case partner Angus Nunn who co-led the Firm's deal team, added that "we continue to advise the world's leading businesses and brands and are excited for our partnership with Rimac to continue to grow as Rimac takes control of the Bugatti Rimac JV."

Completion of the transaction remains subject to customary conditions precedent, including regulatory clearances by the relevant authorities

"We could not have asked for anything more from the entire White & Case team, whose expertise, dedication and support helped bring the transaction together successfully" noted Gordon Kunstek, Rimac's Chief Legal Officer.

The White & Case team which advised on the transaction was led by partners Daniel Turgel and Angus Nunn (both London) and included partners Dan Reavill, Michael Evans, Stephen Shergold, Karla Hughes, Catherine Hill and Tabitha Al-Mahdawie (all London), Mathias Bogush, Johannes Goosens and Tobias Heinrich (all Frankfurt) and Brice Engel and Cyril Valentin (both Paris), counsel Sarah Kouchad (Paris) and associates Kristy Duru, JX Zheng, Iman Adebowale, Rachel Thompson, Edward Beard, Amanda Kingsley, Mariasole Maschio, Siobhan MacLoingsigh, Matthew Rubery, Shruthi Madhusudan, Claire Slunecko and Aliya Manji (all London), Martin Junker  (Berlin), Gregoire Baudry, Tali Cohen-Levy and Henri Stiegler (all Paris), Antonio Marin and Thomas Rousset (both Luxembourg), Selma Lyn Kalkutschke (Dusseldorf), Taylor Gillespie (New York) and Julius Kiss (Frankfurt).

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