Croatia's Rimac Takes Majority Stake In Bugatti

Croatian electric carmaker Rimac Automobili will take the controlling stake in Bugatti, in an ownership swap arrangement with the French race-car brand's owner Volkswagen, the companies said Monday

Berlin, (UrduPoint / Pakistan Point News - 5th Jul, 2021 ) :Croatian electric carmaker Rimac Automobili will take the controlling stake in Bugatti, in an ownership swap arrangement with the French race-car brand's owner Volkswagen, the companies said Monday.

Under the deal, Rimac and Volkswagen will set up a joint venture focused on Bugatti.

Rimac will hold 55 percent of shares in the new company, while Volkswagen will then delegate its stake of 45 percent to its luxury sports car unit Porsche.

The new company will be headquartered in Zagreb and be known as Bugatti-Rimac.

It will be founded in the fourth quarter of 2021, subject to approval from competition authorities, the companies said.

No financial details of the transaction were disclosed.