Abu Dhabi-based CYVN Holdings LLC has reached an agreement to acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business. This agreement was signed between CYVN, an advanced mobility operator and investment vehicle headquartered in Abu Dhabi, and Bahrain Mumtalakat Holding Company BSC(c) (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain.
The acquisition follows a previous announcement in October of this year regarding a potential partnership between Mumtalakat and CYVN Holdings. Through this acquisition, CYVN aims to provide McLaren with access to engineering and design capabilities, cutting-edge technology, and experienced leadership to enhance McLaren’s growth trajectory.
The completion of the transaction is contingent upon customary closing conditions and the necessary regulatory approvals. The signing of the agreement was witnessed by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain.
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