With other investors: Porsche Holding joins long-distance bus operator Flix

With other investors
Porsche Holding invests in long-distance bus operator Flix

12.08.2024, 18:14

Listen to article

The long-distance bus operator Flix will be supported in its growth path by a group of investors around Porsche SE. The family holding company says it is investing a double-digit million amount.

Porsche Automobil Holding SE is taking a stake in Flixbus’ parent company Flix SE as part of a co-investment with the investment company EQT. The holding company of the Porsche and Piech families, which holds the majority of Volkswagen ordinary shares, announced that it is investing a low double-digit million amount.

The companies had already announced EQT’s entry into Flix at the beginning of July, but only named Kühne Holding as a co-investor and did not disclose the purchase price. Porsche Holding has now announced that it will participate in the transaction alongside other co-investors and will provide the company with significant support on its further growth path. Together with the other investors, Porsche will then hold 35 percent of Flix. The joint investment in Flix will further deepen the cooperation between Porsche SE and EQT.

With the investment in the operator of Flixbus and Flixtrain, which is now active in 43 countries, Porsche SE is expanding its investment portfolio for the first time to include a stake in a platform provider in the end customer business. Thanks to its global expansion, Flix has been able to achieve strong sales growth in recent years.

In the 2023 financial year, Flix transported a total of 81 million travelers and increased revenue by 30 percent to two billion euros. In the coming years, the company plans further growth in existing markets as well as expansion into new markets, particularly in Latin America and Asia. The transaction is expected to be completed by the end of 2024, subject to all regulatory approvals.