Porsche Holding joins long-distance bus operator Flix
Bus operator Flix will be supported in its growth strategy by an investor group led by Porsche SE. The family holding is investing a two-digit million amount, it announced.
The Porsche Automobil Holding SE is participating in the Flixbus parent company Flix SE through a co-investment with the investment company EQT. The holding company of the Porsche and Piëch families, which holds the majority of Volkswagen's ordinary shares, announced that it is investing a low two-digit million amount.
The entry of EQT into Flix was already announced by the companies at the beginning of July, with only the Kühne Holding being named as a co-investor and no purchase price being published. Now, the Porsche Holding has announced that it will participate in the transaction alongside other co-investors and will significantly support the company in its further growth. Together with the other investors, Porsche will then hold 35 percent of Flix. The joint participation in Flix will further deepen the cooperation between Porsche SE and EQT.
With its investment in the now active operator of Flixbus and Flixtrain 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. Through its global expansion, Flix has achieved strong revenue growth in recent years.
In the 2023 financial year, Flix transported a total of 81 million passengers and increased its 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 necessary regulatory approvals.
Porsche SE is investing a significant amount into Flix to support its growth strategy, as part of a larger investor group led by Porsche SE. Following the investment, Porsche SE will hold a 35% stake in Flix, further deepening its cooperation with investment company EQT.
