Mazen Moharam’s Post

#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

Abu Dhabi company to acquire McLaren automotive business. Abu Dhabi-based CYVN Holdings LLC will acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business. This comes under an agreement signed between CYVN, an advanced mobility operator and investment vehicle based in Abu Dhabi, and Bahrain Mumtalakat Holding Company BSC “Mumtalakat”, the sovereign wealth fund of the Kingdom of Bahrain. Source: Khaleej Times.

Abu Dhabi-based CYVN Holdings LLC has announced plans to acquire McLaren Group’s automotive business (McLaren Automotive Ltd) and take a non-controlling stake in its racing division (McLaren Racing). This partnership, established with Bahrain Mumtalakat Holding Company ("Mumtalakat"), Bahrain’s sovereign wealth fund, promises to drive McLaren’s growth with advanced engineering, cutting-edge technology, and strategic leadership. #AbuDhabi #McLaren #AutomotiveIndustry #Motorsport #StrategicInvestment #News #Racing #Finance360

"The McLaren Group has entered into a definitive binding agreement with CYVN Holdings (CVYN), an advanced mobility operator and investment entity based in Abu Dhabi, and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of Bahrain. The agreement, which will see CYVN acquire McLaren’s automotive business, alongside a non-controlling stake in McLaren’s racing division, is expected to propel McLaren’s growth trajectory, particularly in the rapidly evolving advanced mobility sector. However, the transaction remains subject to customary closing conditions and regulatory approvals." McLaren Group #CVYNHoldings #AbuDhabi #UAE #Mumtalakat #Bahrain

#AbuDhabi's CYVN Holdings has agreed to acquire #McLaren’s automotive business and a non-controlling stake in McLaren’s racing business after signing a strategic agreement with Bahrain's Mumtalakat. #Forbes For more details: https://lnkd.in/eG3WwbFw

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

We have advised CYVN Holdings, an advanced mobility operator and investment vehicle based in Abu Dhabi, on a strategic partnership with Bahrain Mumtalakat Holding Company BSC. This partnership will see CYVN acquiring McLaren's automotive business and a non-controlling stake in McLaren's racing business. The transaction marks a defining moment CYVN's vision to build a leading, globally connected mobility platform. It also highlights Abu Dhabi's growing role as a global center of excellence for innovation in advanced mobility, while enabling Mumtalakat to continue playing a strategic role in McLaren and benefiting from future growth. Read more here: https://lnkd.in/gg8XUWMs #AOShearman #StrategicPartnership

While McLaren Group recent financial struggles are no secret, a brighter future could be on the horizon. Bahrain Mumtalakat Holding Company ("Mumtalakat") taking full ownership can provide much-needed stability. Here's why this could be a game-changer for McLaren: * Financial breather: Mumtalakat's resources can be a lifeline, helping McLaren recover and focus on long-term goals. * Bye-bye shareholder pressure: Free from the need to appease short-term investors, McLaren can prioritize strategic investments in new technologies and develop groundbreaking supercars. * Investment boost: With Mumtalakat's backing, McLaren can step on the gas when it comes to innovation, propelling them forward in the ever-evolving world of automotive technology such as paving the way to develop electric versions. 🏎️💨🧡Get ready to see McLaren zoom ahead #McLaren #Supercars #Mumtalakat #FutureofMobility #Bahrain

Abu Dhabi’s CYVN Holdings has completed the purchase of McLaren Group’s automotive business, and a stake in its racing business. The two parties believe the deal 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.“ The deal, estimated at over $700 million, includes McLaren Automotive Ltd and McLaren Racing divisions, reflecting Abu Dhabi’s strategic focus on high-growth industries and cutting-edge innovation. This transaction also highlights the strong collaboration between Abu Dhabi and Bahrain, with the full support of Sheikh Khaled and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Kingdom of Bahrain. McLaren, renowned for its high-performance vehicles and motorsports achievements, recorded $1.2 billion in revenue in 2023 and has produced over 20,500 cars. The acquisition follows McLaren’s victory in the Formula 1 World Constructors Championship at the Formula 1® Etihad Airways Abu Dhabi Grand Prix 2024. #sportsbiz #linkedinsports #automotivenews #manda #acquisition #F1 Mahmood Abdulla Bahrain Mumtalakat Holding Company ("Mumtalakat")

Abu Dhabi-based CYVN Holdings LLC is set to acquire McLaren's entire automotive business and secure a non-controlling stake in its racing division. This strategic acquisition aims to supercharge McLaren with cutting-edge engineering capabilities, advanced design technologies, and experienced leadership. ⚡ The groundbreaking deal was signed with Mumtalakat, Bahrain's sovereign wealth fund, marking a strategic partnership that brings together international automotive expertise. 🤝 While the transaction is not yet finalized and remains subject to regulatory approvals, it represents a promising new chapter for the legendary McLaren brand, potentially reshaping its future in the global automotive landscape. 🏎️🏆 https://lnkd.in/dbCqcUFP