McLaren Automotive is about to change hands again, after the current owner, Bahrain Mumtalakat Holding Company, agreed to sell the British brand’s automotive division to Abu Dhabi-based CYVN Holdings LLC, with the promise of investment in the sports car manufacturer.
The Bahraini sovereign fund, Mumtalakat, which took full control of the McLaren Group in April, encompassing McLaren Automotive and McLaren Racing, confirmed that it has reached a binding agreement with the “specialized investor”. The agreement also includes a minority stake in the McLaren Group.
CYVN Holdings, which has investments in Gordon Murray Technologies and Nio, operates in the field of smart mobility solutions, suggesting that the investment in McLaren, the value of which has not been disclosed, will not only provide funding for the British brand but will also enable McLaren to reach its full potential through access to engineering resources, design, cutting-edge technology, and experienced leadership to drive the trajectory of the British brand.
“This acquisition marks a pivotal moment in CYVN’s strategy to build a leading and globally connected mobility platform and reinforces Abu Dhabi’s growing role as a global center of excellence for advanced mobility innovation”, said Jassem Mohammed Bu Ataba Al Zaabi, chairman of CYVN Holdings.
“By combining McLaren’s heritage and historical experience with CYVN’s advanced engineering and technology resources, we aim to redefine high-performance mobility and set a new standard of excellence.”, concluded the president of CYVN Holdings.
