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PRESSR: McLaren set to accelerate next chapter of growth as Mumtalakat and CYVN Holdings explore partnership
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- Prospective deal would see CYVN Holdings bring new capital investment, deep industry expertise and pioneering technology to McLaren
Manama and Abu Dhabi – Bahrain Mumtalakat Holding Company BSC(c) (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, and CYVN Holdings LLC (“CYVN Holdings”), an investment vehicle based in Abu Dhabi which invests in smart and advanced mobility solutions, announced today that they have entered into a non-binding agreement 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.
About Mumtalakat
Mumtalakat is the sovereign wealth fund of the Kingdom of Bahrain. With a mandate to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat holds stakes in over 50 commercial enterprises with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products, healthcare and education.
Further details on Mumtalakat can be found at www.mumtalakat.bh
For more information:
E-mail: communications@mumtalakat.bh
About CYVN Holdings
CYVN Holdings is a specialist operator of smart and advanced mobility solutions, based in Abu Dhabi. It aims to create a smart mobility platform by investing in and partnering with industry leaders around the world.
For more information:
E-mail: media@cyvnholdings.com
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