McLaren Automotive Acquired By Abu Dhabi And Bahrain

Abu Dhabi’s CYVN Holdings has teamed up with Bahrain’s sovereign wealth fund, Mumtalakat, to acquire McLaren’s automotive business and part of its racing division in a landmark deal valued at approximately $700 million.

This strategic partnership is expected to propel McLaren’s growth by providing access to world-class engineering, cutting-edge design capabilities, advanced technology, and experienced leadership. The acquisition reinforces the ambitions of both Abu Dhabi and Bahrain to lead innovation in the global mobility sector.

Jassem Mohammed Bu Ataba Al Zaabi, Chairman of CYVN Holdings, expressed his enthusiasm about the acquisition, stating: “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. 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.”

McLaren, celebrated worldwide for its high-performance vehicles and racing prowess, recorded an impressive $1.2 billion in revenue in 2023. To date, the company has manufactured 20,500 cars, cementing its reputation as a leading name in the automotive world.

The timing of this acquisition is particularly notable, coming shortly after McLaren’s triumph in the Manufacturer’s category at the Abu Dhabi Grand Prix 2024. The victory highlights McLaren’s enduring strength and potential, which will now be supported by its new ownership.

This collaboration between CYVN and Mumtalakat underscores their shared vision for advancing the future of mobility while honoring McLaren’s legacy of excellence and innovation. With this deal, both Abu Dhabi and Bahrain solidify their roles as key players in shaping the mobility industry’s future.

This article was previously published on UAE Moments. To see the original article, click here