- CYVN Holdings LLC, an investment firm backed by Abu Dhabi, is exploring the possibility of acquiring a stake in British luxury carmaker McLaren, according to sources familiar with the matter. The discussions are in the early stages, and it remains uncertain whether CYVN will proceed with a deal. Other unidentified parties are also expressing interest in investing in McLaren, the sources added.
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In February, Bloomberg News reported that McLaren’s controlling shareholder, Bahrain’s Mumtalakat Holding Co., is actively seeking additional investors for the carmaker, which includes the McLaren Formula One racing team. The potential investment comes amid efforts to bolster McLaren’s financial position and strategic direction. Founded in 1963 by racer Bruce McLaren, McLaren is renowned as one of the UK’s premier sports car brands. Last week, the company disclosed that its shareholder injected £55 million ($69 million) in equity funding as part of a recapitalization initiative.
Why it matters
CYVN, known for its $2.2 billion commitment to Chinese electric vehicle maker NIO Inc. last year, aims to foster a smart mobility platform by collaborating with industry leaders globally, as stated in its previous announcements.
