Mumtalakat, the sovereign wealth fund of Bahrain, and Abu Dhabi-based CYVN Holdings LLC announced today that they have entered into a non-binding agreement to explore a potential partnership to accelerate the next chapter of McLaren’s growth. 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.
This investment by CYVN Holdings would bring access to additional capital, advanced engineering expertise, and pioneering technology, particularly in the field of electric vehicles. 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.
This partnership aims 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. The deal would also align with Mumtalakat’s strategy to optimize, enhance and grow its portfolio, to deliver sustainable long-term financial returns.
In March this year, Bahrain’s sovereign wealth fund Mumtalakat took full ownership of the British supercar company after being its biggest shareholder. Mumtalakat has been an investor in the group since 2007 when it bought a 30 percent stake from founding shareholders Ron Dennis and Mansour Ojjeh.
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At that time, McLaren said the move marked “a major milestone in the ongoing transformation journey of the luxury automotive and elite motorsports Group”.
“This reorganization and new simplified structure positions McLaren for success and opens up strategic avenues, which include exploring new partnerships to enhance the company’s growth over the coming years,” added Mumtalakat CEO Sheikh Abdulla bin Khalifa Al Khalifa.
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