Cyvn to snap up 100% of carmaker McLaren from Bahrain’s Mumtalakat?

Cyvn pursues McLaren Automotive buyout: Abu Dhabi-owned smart mobility-focused investment firm Cyvn Holding inked a non-binding agreement with Bahrain’s sovereign wealth fund Mumtalakat Holding Company to explore acquiring 100% of UK luxury sports car manufacturer McLaren Automotive, according to a statement[f]. The value of the potential transaction was not disclosed.

That’s not all: Alongside the full buyout of McLaren Automotive, Cyvn will acquire a non-controlling stake in McLaren Group. The transaction will also see McLaren benefit from Cvyn’s engineering expertise to accelerate its growth, particularly in EV innovation.

This is not the first time we hear about this: Bloomberg reported Cyvn’s interest as early as April, noting that Mumtalakat was keen on bringing in investors to help fuel McLaren’s expansion plans.

Cyvn likes cars for investment: The holding company pledged a USD 2.2 bn equity investment in Chinese electric vehicle manufacturer Nio back last December. The two firms recently partnered to launch Nio’s brand in the Mena region.

A long run: Mumtalakat became McLaren’s majority stakeholder 17 years ago, taking full control only last March.

The story got ink in Bloomberg and Reuters.