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Croatia’s electric supercar maker Rimac Automobili announced a merger with French carmaker Bugatti Automobiles on Monday. According to
Associated Press, the deal is estimated to be worth millions of euros.
The newly-combined company will be called Bugatti Rimac LLC, and Rimac Group will be the majority shareholder with a 55 percent stake. Mate Rimac, the namesake company’s founder and Bugatti Rimac LLC’s new CEO, will retain his original shareholding in the new Rimac Group at 37 percent, with Porsche at 27 percent, Hyundai Motor Group at 12 percent and other investors at 27 percent.
As part of the deal, Bugatti and Rimac will continue to operate as separate brands and retain their own production facilities and distribution channels.
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Rimac Buys Controlling Interest in Bugatti from Volkswagen Group, Forms New Company Newsweek 6 hrs ago © Bugatti Rimac Bugatti Automobiles has been purchased from Volkswagen Group by Rimac Automobili.
Coatian electric supercar company Rimac Group has purchased a controlling interest in super luxury automaker Bugatti Automobiles from Volkswagen Group. The new company will be called Bugatti Rimac. Financial Times first reported the news.
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Rimac Group shareholders include Porsche (24 percent), Hyundai (12 percent), Rimac Group founder Mate Rimac (37 percent), and other investors (27 percent).
Under the deal, Rimac owns 55 percent of Bugatti. Porsche, which is under the Volkswagen Group umbrella, will own the remaining shares.
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