Squire Patton Boggs and KHS Kunstek, Halle & Simac have advised Croatian Rimac Automobili on its combination with French automotive brand Bugatti Automobiles, a subsidiary of German Volkswagen Group, to create a new auto company – Bugatti Rimac. CMS advised the Volkswagen Group, which owns Bugatti, on the deal.
According to Squire Patton Boggs, the deal will see Rimac Automobili become a group and split into two separate businesses: a new hypercar business, which will operate under the Bugatti Rimac venture, and Rimac Technology. According to the firm, “Rimac Group will be the major shareholder in Bugatti Rimac holding a 55% stake, with Porsche keeping its existing 24% shareholding in the Rimac Group and acquiring a 45% stake in the new company. Bugatti Rimac will be headquartered in Croatia and begin trading as a new combined entity from Q4 2021. Bugatti and Rimac will both continue as separate respective brands, retaining existing production facilities and distribution channels.”
Squire Patton Boggs’ team included Berlin-based Partner Jost Arnsperger and Senior Associate Alina Navarro Melendo, Birmingham-based Partner Andrew Glaze and Associate Shauna Halls, Luxembourg-based Lawyers Christian Bleschke, Diarmuid Ryan, Tatiana Siakka, Sandra Mueller, Christofer Eggers, and Hagen Reinsberg, and Paris-based Lawyers Tony Reed, Pauline Pierce, Agata Buczek, Kevin Cosmao, Marion Cavalier and Valerie Ravit.
KHS Kunstek, Halle & Simac’s team was led by Managing Partner Gordon Kunstek.
CMS's team was led by Hamburg-based Partners Hilke Herchen and Jacob Siebert.
Editor's Note: On November 2, 2021, CMS announced that the deal had successfully closed and that the new venture began operating.
