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Abu Dhabi's CYVN Holdings has agreed to acquire McLaren Automotive in a deal that marks a significant shift for the British supercar and Formula One brand. The agreement is seen as an opportunity to inject fresh capital, bolster engineering capabilities, and expedite McLaren’s move toward electric vehicles (EVs). The deal is expected to revitalise McLaren, a company that has faced financial strain and reported record losses recently, while also enhancing its global presence and EV offerings. You can read more about this interesting change in the future of McLaren here - https://lnkd.in/e9ZCPcBf #McLaren #Automotive

🏎️ UAE’s CYVN Holdings to Rev Up McLaren’s Future The iconic British supercar maker McLaren is undergoing a major shift. CYVN Holdings, an Abu Dhabi-based investment firm, is stepping in to acquire McLaren, following the company’s struggles with over £900M in losses. Key Highlights: -CYVN Holdings aims to stabilize McLaren after financial turbulence, which included substantial losses and funding challenges. -The move reflects the UAE's strategic investments in high-value automotive and tech industries. -McLaren’s iconic status in Formula 1 and luxury supercars adds immense brand value, which CYVN plans to leverage for growth. -This acquisition underscores the growing trend of Gulf states investing in Western automotive and tech brands, paving the way for innovative partnerships and sustainable growth. What are your thoughts on this pivotal move in the automotive industry? #AutomotiveInnovation #InvestmentStrategy #McLaren #F1racing #Supercars

Now we know. 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. Credits: CTTO, megazettes

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

Good synopsis of this deal !!

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Abu Dhabi-based CYVN Holdings has officially acquired McLaren’s automotive business from Bahrain’s sovereign wealth fund, Mumtalakat, in a $700M deal—reinforcing the strong ties between Abu Dhabi and Bahrain. This strategic acquisition includes a stake in the McLaren Group, opening doors for innovation in high-tech engineering and electric vehicles. In 2023, McLaren generated $1.2B in revenue and produced 20,500 cars, further solidifying its legacy with a prestigious victory at the 2024 Abu Dhabi Grand Prix with Lando Norris. Dubai-based DP World, one of McLaren’s highest-spending sponsors, also gains prominence from this milestone. The signing ceremony saw the presence of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and H.R.H. Salman bin Hamad Al Khalifa, celebrating a shared vision for growth and innovation.  https://lnkd.in/dQd5dxZF 

In this guide, we delve into the intricacies of McLaren’s service schedule, outlining the key maintenance milestones and procedures necessary to keep your supercar in optimal condition. ℹ️👇 https://lnkd.in/eJNvjeRE #carinspection #mclaren #carbuyer

Credit rating of carmaker downgraded Fitch Ratings downgraded McLaren Holdings’s (McLaren) credit rating to ‘CCC+’ from ‘B-,’ reflecting concerns about the carmaker’s long-term funding plans and negative free cash flow. The downgrade comes despite recent production volume increases and resilient pricing power in the luxury supercar segment. However, McLaren remains dependent on ongoing financial support from its sole owner, Bahrain Mumtalakat Holding Company (Mumtalakat), to maintain operations and service debt. Read more: https://lnkd.in/dx-g2Acr

#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