CYVN Holdings

CYVN Holdings and Bahrain Mumtalakat Holding Company ("Mumtalakat"), the sovereign wealth fund of the Kingdom of Bahrain, announced this week 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.   The potential investment would cement CYVN Holdings' global position in auto production at scale, following a series of previous strategic investments including in NIO Inc. and Forseven Limited.

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain, have witnessed the signing of a strategic partnership agreement between CYVN Holdings LLC (“CYVN”), an advanced mobility operator and investment vehicle based in Abu Dhabi, and Bahrain Mumtalakat Holding Company BSC(c) (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain. Under this agreement, CYVN will acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business. Completion of the transaction remains subject to customary closing conditions and obtaining regulatory approvals. The acquisition follows an announcement of a potential partnership between Mumtalakat and CYVN Holdings in October of this year. 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. https://lnkd.in/d_P3Crw7

On November 28, UAE local time, NIO celebrated the grand opening of its first NIO House in the Middle East and North Africa region, NIO House | Abu Dhabi. Welcoming partners, users, and friends to the city, NIO House | Abu Dhabi marks a significant step in NIO's global network expansion. Located on Al Maryah Island, the emirate's downtown hub and a center of modern development, the NIO House embodies the "Desert Modernity" design concept. Let's explore NIO House | Abu Dhabi, savour its unique aesthetics, and experience how NIO’s design DNA blends with the local culture. NIO MENA #NIO #BlueSkyComing #AbuDhabi #NIOHouseAbuDhabi