Earlier this year we reported that McLaren had been bought in totality by the sovereign wealth fund of the Kingdom of Bahrain. Well, that relationship didn’t last long as it is being reported that McLaren has been sold again, which makes it twice this year. 

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Staying in the Gulf

Bahrain Mumtalakat Holding Company is selling the British sportscar maker to CYVN Holdings. The Government of Abu Dhabi owns CYVN. The latter is a growth equity investor in the future of mobility. In its own words: We invest and partner with leaders globally to support innovators and expanding businesses in the mobility sector.

According to Reuters: CYVN Holdings has entered a non-binding agreement to buy 100% of carmaker McLaren’s automotive business from Mumtalakat, the sovereign wealth fund of Bahrain. Under the potential deal, CYVN Holdings would also acquire a non-controlling stake in McLaren Group.

CYVN Holdings has previous made strategic investments in Chinese automaker Nio, Forseven EV company and Gordon Murray Technologies. This makes CYVN a major investor in the premium automotive sector. 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. It would also allow McLaren to benefit from the broad cross-industry experience of CYVN Holdings’ team, building on CYVN Holdings’ previous strategic investments in Nio Inc., Forseven and Gordon Murray Technologies.

The Whole Shebang

The CYVN deal will see the investment corporation take full control of McLaren’s automotive business ie the sportscar side of things. Additionally, the company will take a non-controlling stake in McLaren Group. The latter owns the Formula One team as well as other racing programs around the world.

Kiwi racer Bruce McLaren founded the company in the 1960s. The F1 team is one of the most successful in the sport. It has claimed eight constructors’ and 12 driver’s world titles since inception. Its most recent driver’s title was claimed by Lewis Hamilton in 2008. The team currently leads the F1 constructors’ log. It’s lead driver, Lando Norris is second on the driver’s standings. The F1 team spawned a sportscar division that produces extremely capable and highly desirable machines. The latest is the McLaren W1 hypercar.