Gulf Daily News - GDN’s Post

UAE Acquires McLaren Amidst Record Losses: A Strategic Move to Revitalize the Brand? 🏎️💰 In a significant development, the United Arab Emirates (UAE) has acquired a majority stake in McLaren, the iconic British supercar manufacturer, after the brand reported record losses. 📉 McLaren's financial struggles have been well-documented, with: 📊 Record losses of £542 million in 2021 📉 Declining sales and revenue amidst intense competition 🔄 Challenges in adapting to changing market trends and consumer preferences The UAE's acquisition is seen as a strategic move to: 💰 Inject much-needed capital into the business 🔄 Bring in fresh expertise and perspectives to drive growth 🌐 Expand McLaren's global presence and appeal Will this acquisition be the catalyst for McLaren's turnaround? 🤔 Share your thoughts! 💬 #McLaren #UAE #Acquisition #RecordLosses #Turnaround #StrategicMove #Automotive #Motorsports #Business

Proudly Emirati Car!! British supercar manufacturer McLaren has been acquired by CYVN Holdings, a subsidiary of Abu Dhabi’s trillion-dollar sovereign wealth fund. The acquisition marks a significant shift for McLaren, which has been striving to develop its first electric supercar and adapt to the evolving automotive landscape. Previously owned by Bahrain’s state-backed Mumtalakat Holding Company, McLaren’s automotive business will now be controlled by CYVN. The agreement comes on the heels of a challenging year for McLaren, which reported record losses of £924 million in 2023, nearly three times the £349 million loss recorded in 2022. As part of the deal, Mumtalakat will retain control of McLaren’s racing division, while CYVN will hold a minority stake in the overall business. The transaction reflects the growing interest of Gulf investors in high-performance automotive brands and McLaren's ambitions to secure a foothold in the electric vehicle market. #amconews #uae #maclaren #maclaren720s #MaclanRacing

Abu Dhabi company to acquire McLaren automotive business. Abu Dhabi-based CYVN Holdings LLC will acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business. This comes under an agreement signed between CYVN, an advanced mobility operator and investment vehicle based in Abu Dhabi, and Bahrain Mumtalakat Holding Company BSC “Mumtalakat”, the sovereign wealth fund of the Kingdom of Bahrain. Source: Khaleej Times.

#British #supercar manufacturer McLaren Group has been acquired by CYVN Holdings, a subsidiary of Abu Dhabi’s trillion-dollar sovereign #wealth fund. The acquisition marks a significant shift for McLaren, which has been striving to develop its first electric supercar and adapt to the evolving automotive landscape. Previously owned by Bahrain’s state-backed #Mumtalakat #Holding Company, McLaren’s automotive business will now be controlled by CYVN. The agreement comes on the heels of a challenging year for McLaren, which reported record losses of £924 million in 2023, nearly three times the £349 million loss recorded in 2022. As part of the deal, Mumtalakat will retain control of McLaren’s #racing division, while CYVN will hold a minority stake in the #overall #business. The transaction reflects the growing interest of Gulf investors in high-performance automotive brands and McLaren's ambitions to secure a foothold in the electric vehicle market. #amconews #uae #maclaren #maclaren720s #MaclanRacing

🚗✨ McLaren Automotive is set for a significant change in ownership. Abu Dhabi-based CYVN Holdings has entered a non-binding agreement to acquire 100% of McLaren’s automotive business from Bahrain’s Mumtalakat Holding Company. This move aims to infuse McLaren with additional capital and advanced engineering expertise, particularly in electric vehicle technology. The deal also includes CYVN taking a non-controlling stake in McLaren Group, aligning with Mumtalakat’s strategy to optimise its portfolio for sustainable returns. https://hubs.la/Q02YjYfh0 #McLaren #CYVNHoldings #AutomotiveIndustry #ElectricVehicles

McLaren Automotive GroupQ3 (YTD) 2024 Results ● Delivering on our core fundamentals – performance continues on track, withpositive momentum from our refreshed product line-up ● Exciting launch of our new flagship model, the ground-breaking McLaren Group W1 ● Strong volumes growth year-on-year – up 80% in Q3 and 55% YTD, driven bydemand for the 750 Sand the new Artura Spider and Coupe ● YTD Revenue up 80% to £618m (YTD 2023: £343m) and EBITDA up £129m to£(19)m (YTD 2023: £(148)m) from increased volumes, a broader model mix andimproving margins ● Stable production delivery, enabling a full year wholesale volume forecast of circa.3,200 vehicles ● Liquidity of £185m at September 2024, supporting ongoing investment into futureproduct lineup ● McLaren Group’s shareholder, Mumtalakat, announced in October that a nonbinding

Abu Dhabi-based CYVN Holdings LLC has announced plans to acquire McLaren Group’s automotive business (McLaren Automotive Ltd) and take a non-controlling stake in its racing division (McLaren Racing). This partnership, established with Bahrain Mumtalakat Holding Company ("Mumtalakat"), Bahrain’s sovereign wealth fund, promises to drive McLaren’s growth with advanced engineering, cutting-edge technology, and strategic leadership. #AbuDhabi #McLaren #AutomotiveIndustry #Motorsport #StrategicInvestment #News #Racing #Finance360

Abu Dhabi’s CYVN Holdings has completed the purchase of McLaren Group’s automotive business, and a stake in its racing business. The two parties believe the deal will "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.“ The deal, estimated at over $700 million, includes McLaren Automotive Ltd and McLaren Racing divisions, reflecting Abu Dhabi’s strategic focus on high-growth industries and cutting-edge innovation. This transaction also highlights the strong collaboration between Abu Dhabi and Bahrain, with the full support of Sheikh Khaled and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Kingdom of Bahrain. McLaren, renowned for its high-performance vehicles and motorsports achievements, recorded $1.2 billion in revenue in 2023 and has produced over 20,500 cars. The acquisition follows McLaren’s victory in the Formula 1 World Constructors Championship at the Formula 1® Etihad Airways Abu Dhabi Grand Prix 2024. #sportsbiz #linkedinsports #automotivenews #manda #acquisition #F1 Mahmood Abdulla Bahrain Mumtalakat Holding Company ("Mumtalakat")

McLaren gets a new owner with big plans for the future. A potential deal between the Abu Dhabi government-owned investor and the manufacturer was first announced in October 2024, and the ink dried on the agreement on December 8th. However, while the deal has been signed, it will be completed subject to customary closing conditions and obtaining regulatory approvals. Once the deal goes through, CYVN Holdings and McLaren believe the new partnership will “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://buff.ly/41t0BRc

McLaren Automotive Ltd, the British luxury sports car manufacturer, has been sold to a UAE investor for $1.5 billion. This acquisition marks a significant shift for the iconic brand, known for its high-performance vehicles and innovation in motorsports. The sale is expected to bring new financial backing, enabling McLaren to expand its operations, invest in electric vehicle technology, and maintain its competitive edge in the automotive market. #Businessbulls #Business #Luxury #News