Abu Dhabi-based CYVN Holdings has signed a strategic partnership agreement with Bahrain’s Mumtalakat Holding Company to acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business.
The acquisition follows an announcement of a potential partnership between Mumtalakat and CYVN Holdings in October of this year. The completion of the transaction remains subject to customary closing conditions and obtaining regulatory approvals.
The transaction also aligns with Mumtalakat’s strategy and ongoing efforts to optimize and enhance its portfolio, ensuring sustainable long-term financial returns.
Through this acquisition, CYVN is set to empower McLaren to reach its full potential via access to engineering and design capabilities, leading-edge technology, and experienced leadership to propel McLaren’s trajectory.
Commenting on the announcement, Jassem Mohammed Bu Ataba Al Zaabi, Chairman of CYVN Holdings, said that, “This acquisition marks a defining moment in CYVN’s vision to build a leading, globally connected mobility platform and underscores Abu Dhabi’s growing role as a global center of excellence for innovation in advanced mobility. By combining McLaren’s iconic heritage and expertise with CYVN’s advanced engineering and technology capabilities, we aim to redefine high-performance mobility and set a new benchmark for excellence.”
“This agreement marks a pivotal moment in Mumtalakat’s strategic vision for the transformation of McLaren Group, which has included its recent reorganization that opened doors for new strategic avenues and partnership opportunities. We are confident in CYVN’s ability to build on McLaren’s strong legacy and unlock its full potential with Mumtalakat continuing to play a strategic role in McLaren having the ability to benefit from future growth. With CYVN’s advanced engineering capabilities and forward-looking vision, we believe they are the perfect partner to drive the next phase of McLaren’s growth and evolution,” stated Shaikh Salman bin Khalifa Al Khalifa, Bahraini Minister of Finance and National Economy and Chairman of the Board of Directors of Mumtalakat.
