No financial details about the deal between Bahrain’s sovereign wealth fund and CYVN Holdings have been revealed
October 30, 2024 at 06:47
- CYVN Holdings will also acquire a non-controlling stake in the broader McLaren Group.
- The Abu Dhabi-based investment group acquired a controlling stake in Gordon Murray Technologies last year.
Since March this year, the McLaren Group has been owned by Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain. Fast forward just seven months and it’s been revealed Mumtalakat has signed a non-binding agreement to sell its 100% stake in McLaren Automotive to CYVN Holdings, an investment group based in Abu Dhabi.
The McLaren Group includes the brand’s racing division, and while Mumtalakat is off-loading the brand’s road-car arm, it will retain its stake in the broader group. However, if the deal goes through, CYVN Holdings will also acquire a non-controlling stake in the McLaren Group. There are no details on how large this stake could be.
Read: 12 Surprising Things About The New McLaren W1 Hypercar
CYVN Holdings said its acquisition of McLaren Automotive will provide the marque with access to additional capital, “advanced engineering expertise and pioneering technology, particularly in the field of electric vehicles.”
“This partnership would look to build on McLaren’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,” a statement added. “The deal would also align with Mumtalakat’s strategy to optimise, enhance and grow its portfolio, to deliver sustainable long-term financial returns.”
Interestingly, the investment group acquired a controlling stake in Gordon Murray Technologies from the Gordon Murray Group just over 12 months ago, and is clearly looking to grow its footprint in the automotive space.
No financial details are known about CYVN’s acquisition of McLaren Automotive. The deal comes just three weeks after McLaren unveiled its long-awaited hybrid successor to the P1, known as the W1. The new car has a twin-turbocharged 4.0-liter V8 working alongside a hybrid system to deliver a combined 1,258 hp and 988 lb-ft (1,340 Nm). It will go head-to-head with the Ferrari F80, also unveiled earlier this month.
