[kungito]

They didn't buy Rimac, they bought a stake. It used to be 24%, not sure if it's bigger now https://www.caranddriver.com/news/a36920070/bugatti-rimac-po...

[agloe_dreams]

I updated the comment, It's really weird. They bought a part but also effectively gave Rimac the Bugatti company. One can argue that they basically leveraged Bugatti to acquire some control of Rimac and board seats without spending actual money.

They have a glorious flowchart on their site. https://web-cdn.rimac-automobili.com/wp-content/uploads/2021...

[rasz]

That chart reminds me of Korean chaebols ownership structure right before the big crash of 1997

Asianometry How the Rich Ate South Korea https://youtu.be/hWCcvOE84Ao?t=489

[NikolaNovak]

That IS a glorious chart, thank you; am I the only one who would REALLY want some arrows there? :)

[spookie]

It would be hilarious if it also had the fact that Porsche is owned by Volkswagen, and Volkswagen in turn... owns Porsche. https://www.bosshunting.com.au/motors/cars/volkswagen-group-...

[KingOfCoders]

Porsche has a 45% stake in Bugatti Rimac and a 22% stake in Rimac Group, which has a 55% stake in Bugatti Rimac. So it's complicated.

[WanderPanda]

I like my conglomerates like my datastructures, directed and acyclic :p

[TacticalCoder]

Not that complicated. Porsche was once described as "the hedge fund that happens to also build cars".

Porsche did this stake here and there thing precisely to gain > 50% of Rimac voting rights.

It's simple really: Porsche controls Rimac.

Then there's the whole "VW took control of Porsche after the short squeeze made by Porsche to try to acquire VW failed" (it failed due to the sudden crash during the 2008 banking crisis IIRC). And now Porsche is apparently spinning out of VW and shall be independent again.

[cinntaile]

They only own 22% in Rimac, that's not a controlling stake. Therefore they don't have > 50% of Rimac (Rimac Bugatti I assume) voting rights.