Porsche Holding SE

Porsche has sold its minority holdings of 45 percent in Bugatti and 20.6 percent in Rimac to Hof Capital (the Sawiris family) for around €1 billion. The move is part of a strategic realignment at Porsche, which is slowing its electrification plans but will remain a components supplier and continue to cooperate with Rimac on hybrid projects. Rimac describes the split as amicable and announces continued collaboration with Porsche. Bugatti is preparing to start production of the new Tourbillon (1,800 hp, engine by Cosworth) and, according to Rimac, expects an operating result of €200 million for 2025 and sold-out production by the end of the decade. » Mere på faz.net

Porsche, after receiving regulatory approval, completed the sale of its stakes in Bugatti and Rimac and raised one billion euros. Of the proceeds, 250 million euros are to be used to fully fund pension obligations. The management board lifts the expected net cash-flow margin in the automobile segment to 5.5–7.5 percent (previously 3–5 percent). The buyer is a consortium led by US financial investor Hof Capital. » Mere på finanzen.net

Longtime shareholder Christian Strenger has filed suit against Porsche SE, criticising the supervisory board for allegedly awarding Lutz Meschke an inappropriately high compensation after his departure, running until 2030. Strenger objects to the board being discharged by the annual general meeting and complains about increases in fixed salary and bonus targets that could cost Meschke around €21 million in total. Porsche SE intends to defend the lawsuit and is represented by law firm Hengeler Mueller. The lawsuit’s success depends on proving a serious breach of duty by the supervisory board. » Mere på manager-magazin.de