Abu Dhabi’s CYVN, Bahrain’s Mumtalakat complete McLaren automotive acquisition

Abu Dhabi: Abu Dhabi-based investment vehicle CYVN Holdings and Bahrain’s Mumtalakat Holding Company - the sovereign wealth fund of Bahrain – announced it has completed the acquisition of McLaren Automotive and a non-controlling stake in McLaren Racing. The two Gulf investors have also acquired a non-controlling stake in McLaren Racing. The announcement from CYVN comes after the investors completed customary closing conditions and obtained regulatory approvals to finalise the deal.

“This milestone marks a significant step in CYVN’s strategy to build a leading, globally connected mobility platform and unlock McLaren’s full potential in the high-performance automotive sector,” the firms said in a joint statement.

The companies said that the completion of this transaction also aligns with Mumtalakat’s strategy to optimise and enhance its portfolio while ensuring sustainable long-term financial returns. Details about this acquisition first appeared in October last year.

According to a Reuters report, McLaren had said in April 2024 that Mumtalakat had acquired full ownership of the group, including the British supercar maker and Formula One team McLaren Racing.

“This transformative investment by CYVN Holdings would bring access to additional capital, advanced engineering expertise and pioneering technology, particularly in the field of electric vehicles,” the had firms said in a joint statement back then.