ABU DHABI: The Abu Dhabi-based investment vehicle CYVN Holdings has entered a non-binding agreement to acquire full ownership of McLaren’s automotive business, in addition to a non-controlling stake in McLaren Group.
The prospective deal between CYVN Holdings and Bahrain Mumtalakat Holding Company, the country’s sovereign wealth fund, is expected to bring new capital investment, industry expertise and pioneering technology to McLaren, particularly in the field of electric vehicles, a joint statement read.
In March, Mumtalakat completed a deal to take full ownership of McLaren Group, which includes the British supercar maker and McLaren Racing.
