Bahrain Mumtalakat Holding Company BSC (Mumtalakat), the kingdom’s sovereign wealth fund, and Abu Dhabi-based CYVN Holdings said they entered into a non-binding agreement to explore a potential acquisition-cum-partnership deal.
The potential partnership would see CYVN Holdings acquire full ownership of McLaren’s automotive business, in addition to a non-controlling stake in McLaren Group.
The investment by CYVN Holdings would bring access to additional capital, advanced engineering expertise and pioneering technology, particularly in the field of electric vehicles, to McLaren, enabling it to accelerate the next chapter of its growth, the company said.
It would also allow McLaren to benefit from the broad cross-industry experience of CYVN Holdings’ team, building on CYVN Holdings’ previous strategic investments in NIO Inc., Forseven and Gordon Murray Technologies.
CYVN Holdings, an investment vehicle-based in Abu Dhabi, invests in smart and advanced mobility solutions.
This partnership would look to build on the automotive manufacturer’s highly successful track record in elite motorsport and grow one of the world’s most prestigious range of high-performance vehicles, with an expanding network of over 110 retailers in 30 global regions.
The deal would also align with Mumtalakat’s strategy to optimise, enhance and grow its portfolio, to deliver sustainable long-term financial returns.
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