Transportation
Porsche Sells Bugatti Stake in Retreat From Ultra-Luxury Cars
Photographer: Philippe Petit/Paris Match/Getty Images
Porsche AG has agreed to sell its stake in the venture that owns the Bugatti supercar brand to a consortium led by HOF Capital, the fund co-founded by a scion of Egypt’s billionaire Sawiris family.
Abu-Dhabi based private equity firm BlueFive Capital will come in as the largest investor in the consortium, which will also include a group of institutional investors across the US and EU, according to statements released Friday.