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Volkswagen's Porsche AG to raise stake in Croatia's Rimac to 24%

Posted by ritcha gataga on March 8, 2021 at 10:36pm 0 Comments

Volkswagen's luxury division Porsche AG has agreed to raise its stake in Rimac Automobili to 24%, the companies said on Monday, in a deal that values the Croatian electric hypercar maker at 795 million euros ($947 million).

Porsche AG first bought a 10% stake in Rimac in 2018, raising it to more than 15% a year later. Under the latest deal, it is buying a further 8.8% for 70 million euros.

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