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Banks

Electric supercar maker Rimac to go public in 2022 - Manager Magazin

A 2019 Rimac C2 Hyper car, valued at $2.1million, is seen on display at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton/Files

(Corrects RIC in paragraph 1)

(Reuters) - Porsche’s Croatian partner Rimac will go public in 2022 and soon take over the luxury carmaker Bugatti, Manager Magazin reported on Wednesday.

The company is aiming for a valuation of around 5 billion euros ($6.06 billion), the magazine reported, citing sources close to the matter.

Together with Porsche, Rimac will soon also take over Bugatti, which will be brought into a joint venture with Rimac holding 55% and Porsche 45% of the shares, Manager Magazin reported.

No-one at Volkswagen or at Porsche was immediately available to comment on the report.

($1 = 0.8252 euros)

Reporting by Zuzanna Szymanska in Gdansk

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