His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and Abu Dhabi Crown Prince and Abu Dhabi Executive Council chairman Shaikh Khaled bin Mohammed bin Zayed Al Nahyan have witnessed the signing of a strategic partnership agreement between CYVN Holdings and Bahrain Mumtalakat Holding Company.
Under this agreement, CYVN Holdings, an advanced mobility operator and investment vehicle based in Abu Dhabi, will acquire McLaren’s automotive business and a non-controlling stake in McLaren’s racing business.
Completion of the transaction remains subject to customary closing conditions and obtaining regulatory approvals.
The acquisition follows an announcement of a potential partnership between Mumtalakat, Bahrain’s sovereign wealth fund, and CYVN Holdings in October of this year.
Through this acquisition, CYVN is set to 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.
“This acquisition marks a defining moment in CYVN’s vision to build a leading, globally connected mobility platform and underscores Abu Dhabi’s growing role as a global centre of excellence for innovation in advanced mobility,” CYVN Holdings chairman Jassem Mohammed Bu Ataba Al Zaabi said.
“By combining McLaren’s iconic heritage and expertise with CYVN’s advanced engineering and technology capabilities, we aim to redefine high-performance mobility and set a new benchmark for excellence,” he added.
According to Finance and National Economy Minister and Mumtalakat board of directors chairman Shaikh Salman bin Khalifa Al Khalifa, the agreement marks a pivotal moment in Mumtalakat’s strategic vision for the transformation of McLaren Group, which includes its recent reorganisation that opened doors for new strategic avenues and partnership opportunities.
“We are confident in CYVN’s ability to build on McLaren’s strong legacy and unlock its full potential with Mumtalakat continuing to play a strategic role in McLaren having the ability to benefit from future growth,” Shaikh Salman said.
“With CYVN’s advanced engineering capabilities and forward-looking vision, we believe they are the perfect partner to drive the next phase of McLaren’s growth and evolution.”
As part of its broader vision, CYVN is focused on creating a smart mobility platform by partnering with global industry leaders to deploy capital, engineering and design excellence, leading-edge technology, and experienced leadership in advanced mobility.
The transaction also aligns with Mumtalakat’s strategy and ongoing efforts to optimise and enhance its portfolio, ensuring sustainable long-term financial returns.
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