Dentons advises Square Forty in connection with landmark Bugatti Rimac and Rimac Group transaction

Dubai-Dentons has advised Square Forty Limited in connection with the participation by funds managed by Square Forty in an investment vehicle managed by HOF Capital. The investment formed part of a consortium led by HOF Capital that has completed the acquisition of Porsche's equity stakes in Bugatti Rimac and Rimac Group.

The landmark transaction completed on 9 September 2026 following receipt of the required regulatory approvals. The consortium, led by HOF, acquired Porsche's 45% interest in Bugatti Rimac and its approximately 21% interest in Rimac Group. Porsche has announced that the transaction generated proceeds of approximately €1 billion.

Bugatti Rimac was established in 2021 as a joint venture between Porsche and Rimac Group, bringing together the iconic Bugatti marque and Rimac's pioneering automotive technology platform. Following completion, Rimac Group remains the 55% majority shareholder in Bugatti Rimac, while HOF Capital and its consortium have become strategic shareholders alongside Mate Rimac and the existing shareholder base.

Ramy Ramadan, Dubai Partner, commented: "We are delighted to have advised the Square Forty team in connection with this exceptional transaction. Bugatti and Rimac are two of the most distinctive names at the intersection of automotive heritage, technology and innovation, and this was a particularly exciting opportunity to support our client on a complex cross-border investment involving a sophisticated international fund structure. The transaction also demonstrated the strength of Dentons' integrated international platform, bringing together cross-border M&A, private capital and investment funds expertise to deliver seamless advice across jurisdictions."

The Dentons team was led by Ramy Ramadan (Partner, Dubai) and Owen McLennan (Partner, Edinburgh), with support from Anna Terrizzi (Counsel, Dubai), Alex Petrie (Senior Associate, London) and Maria Polycarpou (Trainee, London).

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