P1racenews AI automatic summary:
McLaren Group’s automotive sector is set for new investment from an equity firm owned by the Abu Dhabi government. CYVN Holdings, the firm in question, has entered into a non-binding agreement with Mumtalakat, the sovereign wealth fund of Bahrain, with any deal agreed seeing it take 100 per cent control of the automotive side and […]
CYVN Holdings has entered a non-binding agreement with Mumtalakat, Bahrain’s sovereign wealth fund, for potential control of McLaren’s automotive business and a stake in the McLaren Group. Mumtalakat has been a McLaren investor since 2007 and took full control in March this year. The partnership aims to accelerate McLaren’s growth by providing capital, engineering expertise, and technology for electric vehicles. CYVN Holdings’ industry experience and strategic investments could enhance McLaren’s product strategy and global expansion, aligning with Mumtalakat’s goal of optimizing its portfolio for long-term financial returns.
