The former British car brand sold its head office in 2021 in a so-called 'sale and lease back' agreement. Now the entire car brand has been sold after just seven months.
The car brand McLaren has been sold – again. The former British car manufacturer has changed hands once again. After just seven months under Bahrain's sovereign wealth fund, Mumtalakat, McLaren Automotive has been sold to CYVN Holdings, an Abu Dhabi investment group.
CYVN Holdings is already the largest shareholder in the Chinese electric car manufacturer Nio. Although Mumtalakat is selling its stake in McLaren Automotive, the foundation retains its stake in the parent McLaren Group, which also includes McLaren's motorsport activities.
However, CYVN Holdings will also acquire a minority stake in McLaren Group, but the exact size of this stake is still unknown.
CYVN Holdings states that the purchase of McLaren Automotive will give the car brand access to additional capital, "advanced engineering expertise and cutting-edge technology, particularly in electric vehicles."
– This partnership will build on McLaren's track record in motorsport and develop one of the world's most recognized ranges of high-performance sportswear with a growing network of over 110 dealers in 30 global regions.
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– The deal is also in line with Mumtalakat's strategy to optimise, improve and expand its portfolio to deliver sustainable, long-term economic returns, reads a press release.
Just over a year ago, CYVN Holdings bought a controlling stake in Gordon Murray Technologies from the Gordon Murray Group, and it's clear that the investment group wants to increase its presence in the automotive industry.
No financial details of CYVN Holdings' purchase of McLaren Automotive have been disclosed. The deal comes just three weeks after McLaren unveiled its long-awaited hybrid successor to the P1 also known as the W1.
The new car has a twin-turbocharged 4.0-litre V8 engine that works with a hybrid system to deliver a total output of 1,258bhp and 1,340Nm of torque. The car is thus a direct match to the Ferrari F80, which was also presented earlier this month.
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