Mumtalakat, CYVN in deal to explore McLaren partnership
INDUSTRIAL NEWS
Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, today (October 29) announced that it has entered into a non-binding agreement with CYVN Holdings, an investment vehicle based in Abu Dhabi which invests in smart and advanced mobility solutions, 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.
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.
CYVN Holdings’ cross-industry experience, highly specialized team and existing strategic investments in NIO Inc., Forseven and Gordon Murray Technologies also bring potential synergies to complement and enhance McLaren’s product strategy.
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.
The deal would also align with Mumtalakat’s strategy to optimise, enhance and grow its portfolio, to deliver sustainable long-term financial returns.-TradeArabia News Service
