Abu Dhabi’s CYVN Holdings has acquired McLaren from Bahrain’s sovereign wealth fund, Mumtalakat. The deal was signed in the presence of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and HRH Prince Salman, Crown Prince and Prime Minister of Bahrain. Under the agreement, CYVN Holdings will take over McLaren’s car business and gain a small stake in McLaren’s racing team. This follows talks between Mumtalakat and CYVN about a possible partnership in October.
CYVN aims to help McLaren grow by providing access to advanced technology, engineering, and leadership. Jassem Mohammed Bu Ataba Al Zaabi, Chairman of CYVN, sees this as a key step in their plan to create a global mobility platform. He also believes this partnership will redefine high-performance mobility.
Mumtalakat is confident that CYVN will help McLaren reach its full potential, and the deal is expected to strengthen both companies’ future growth. The transaction is still subject to regulatory approvals.
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