- CYVN Holdings will also acquire a non-controlling stake in the broader McLaren Group.
- The Abu Dhabi-based investment group acquired a controlling stake in Gordon Murray Technologies last year.
Since March, the McLaren Group has been under the ownership of Mumtalakat, the sovereign wealth fund of the Kingdom of Bahrain. Now, just seven months later, Mumtalakat has signed a non-binding agreement to offload its entire stake in McLaren Automotive to CYVN Holdings—an investment group based in Abu Dhabi that also happens to be the largest shareholder in Nio.
The McLaren Group includes both the automotive division and the brand’s storied racing arm. While Mumtalakat is shedding its stake in McLaren’s road-car business, it’s not walking away from the company entirely; the sovereign fund will retain its stake in the broader McLaren Group. However, if the deal goes through, CYVN Holdings will also acquire a non-controlling interest in the larger McLaren Group. As for the size of this stake? Details remain scarce.
Read: 12 Surprising Things About The New McLaren W1 Hypercar
CYVN Holdings said its acquisition of McLaren Automotive will provide the marque with access to additional capital, “advanced engineering expertise and pioneering technology, particularly in the field of electric vehicles.”
“This partnership would look to build on McLaren’s highly successful track record in elite motorsport and grow one of the world’s most prestigious range of high-performance vehicles, with an expanding network of over 110 retailers in 30 global regions,” a statement added. “The deal would also align with Mumtalakat’s strategy to optimise, enhance and grow its portfolio, to deliver sustainable long-term financial returns.”
Interestingly, the investment group acquired a controlling stake in Gordon Murray Technologies from the Gordon Murray Group just over 12 months ago, and is clearly looking to grow its footprint in the automotive space.
No financial details are known about CYVN’s acquisition of McLaren Automotive. The deal comes just three weeks after McLaren unveiled its long-awaited hybrid successor to the P1, known as the W1. The new car has a twin-turbocharged 4.0-liter V8 working alongside a hybrid system to deliver a combined 1,258 hp and 988 lb-ft (1,340 Nm). It will go head-to-head with the Ferrari F80, also unveiled earlier this month.
