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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 Amid Financial Turmoil 🚗 In a landmark deal, the UAE's sovereign wealth fund has acquired McLaren's automotive business following the British supercar maker's record annual loss of £924 million in 2023. The acquisition, led by CYVN Holdings and witnessed by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, aims to redefine high-performance mobility and secure McLaren's future. This strategic move highlights the UAE's commitment to diversifying its economy and investing in cutting-edge technology and innovation. With McLaren's iconic heritage and CYVN's advanced engineering capabilities, the partnership is set to set new benchmarks for excellence in the automotive industry. Read the full article in the following link: https://lnkd.in/dvxn4Efw #AutomotiveIndustry #Innovation #UAE #McLaren #BusinessNews

SuperCars&more! ■ Abu Dhabi's CYVN Holdings enters non-binding deal to buy McLaren's automotive business! ■ DUBAI, Oct 29 (Reuters) - Abu Dhabi-based investment vehicle CYVN Holdings has entered a non-binding agreement to buy 100% of carmaker McLaren's automotive business from Mumtalakat, the sovereign wealth fund of Bahrain, the two Gulf firms said on Tuesday. Under the potential deal, CYVN Holdings would also acquire a non-controlling stake in McLaren Group," CYVN and Mumtalakat said in a statement, without providing further details. McLaren said in April Mumtalakat had acquired full ownership of the group, which includes 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 firms said in the joint statement. #McLaren #SuperCar #Automotive

#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

🚗 Breaking News in the Automotive World: Abu Dhabi’s CYVN Holdings Makes a Major Move with McLaren! 🔧 CYVN Holdings, a prominent Abu Dhabi-based investment firm, has announced plans to acquire a significant stake in McLaren Group. This strategic investment aims not only to boost McLaren’s financial strength but also grants CYVN Holdings full control over McLaren’s automotive operations, marking a historic shift in the industry. This move could unlock new opportunities for technological innovation, sustainability efforts, and high-performance engineering, merging the luxury and precision that McLaren is known for with the forward-looking ambitions of CYVN. The acquisition showcases Abu Dhabi’s commitment to leading-edge automotive tech and the global luxury sports car market. What impact do you think this acquisition will have on McLaren’s legacy and innovation? #AbuDhabi #InvestmentNews #McLaren #CYVNHoldings #AutomotiveInnovation #LuxuryCars #Investment #WayzAdvisory

McLaren Secures £100M Investment from Cyvn Holdings McLaren Group has sold a significant minority stake in its supercar division to CYVN Holdings, a UAE-based investor, in a deal valued at £100 million. This move aims to bolster McLaren’s financial position and fuel its growth ambitions in the luxury automotive market. Cyvn Holdings, already a major shareholder, increases its ownership to nearly 33%.

Abu Dhabi-backed CYVN Holdings has entered a non-binding agreement with Bahrain's Mumtalakat Holding to acquire a stake in British carmaker McLaren Group, potentially leading to control over its automotive division. This partnership is designed to inject McLaren with vital capital and advanced engineering expertise, particularly in electric vehicle (EV) technology, to enhance its lineup of high-performance vehicles and expand its global retail presence. By leveraging Bahrain Mumtalakat Holding Company ("Mumtalakat") 's full ownership of McLaren and CYVN Holdings' earlier USD 2.2 billion investment in Chinese EV maker Nio, the collaboration aims to strengthen McLaren's market position and accelerate EV development. Read the full article via the link: https://shorturl.at/rQTCJ

McLaren Automotive, the renowned British sports car manufacturer, has been acquired by CYVN Holdings, an Abu Dhabi-based investment fund owned by the UAE government. The deal, estimated at £1.2 billion ($2.3 billion AUD), was confirmed by McLaren’s previous owner, Bahrain’s Mumtalakat, which had steadily increased its investment in the company since 2007. The acquisition includes McLaren’s automotive division and a non-controlling stake in its racing business. CYVN Holdings, known for its expertise in advanced mobility, also holds significant stakes in companies like Chinese EV manufacturer Nio and Gordon Murray Technologies, famed for designing high-performance road cars and Formula 1 racing vehicles. This move raises questions about McLaren’s future operations, including whether production will remain in England or shift to the UAE. CYVN has stated its intent to leverage McLaren’s heritage and engineering capabilities to redefine high-performance mobility. For more updates follow @gazettenowofficial or visit www.gazettenow.com #mclaren #uae #gazettenow #trendingnow

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

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