The former British car brand McLaren has been sold to Abu Dhabi, following an investment decision made after thorough review.
CYVN Holdings, based in Abu Dhabi, is now the new owner of McLaren Automotive.
This was reported by Autocar.
The deal was finalized after it became clear in late October that a new owner was needed. Remarkably, this change comes just seven months after the car brand last changed hands.
Now, it’s happening again. Bahrain's sovereign wealth fund, Mumtalakat, is selling the former British car brand.
The purchase price for McLaren’s road car division remains undisclosed. However, despite selling its stake in McLaren Automotive, Mumtalakat will retain its share in the overarching McLaren Group, which includes McLaren’s motorsport operations.
This arrangement means Bahrain can still benefit from McLaren’s recent success in motorsport, including the Formula 1 team winning the Constructors' Championship for the first time in 26 years.
While the specific price agreed between the two states is unknown, some context is available. In 2021, McLaren sold its headquarters in Woking, England, for £170 million.
However, it’s estimated that McLaren spent up to £331 million to expand the renowned McLaren Technology Centre, which has also served as the Formula 1 team’s base since 1998.
The sale of the headquarters was structured as a “sale and leaseback” agreement. This means McLaren will continue to rent the sprawling premises for at least the next 20 years.
