Holdings Archives

Bahrain and Abu Dhabi take the wheel at F1 team McLaren Racing

Bahrain’s sovereign fund, Mumtalakat and Abu Dhabi’s CYVN Holdings became the full owners of Formula One’s McLaren Racing on Tuesday in a transaction that is reportedly valued at as much as $5 billion.

The team issued a statement that confirmed the transfer of all shares that were previously held by MSP Sports Capital, funds managed by O’Connor Capital Solutions, Ares Sports, Media and Entertainment funds, and Caspian Funds.

Bahrain sovereign wealth fund Mumtalakat will remain the majority shareholder with CYVN holding a non-controlling stake, Reuters reports.

It comes amid an on-track resurgence for McLaren, with drivers Oscar Piastri and Lando Norris sitting in first and second place after winning 12 out of 15 races this season.

Abu Dhabi’s CYVN Holdings to merge McLaren with EV maker

After taking control of McLaren Automotive last year, Abu Dhabi’s state-owned CYVN Holdings is starting to roll out its turnaround plans for the venerable British sports car maker.

The investment company, a unit of the ADIA sovereign wealth fund, is preparing to merge McLaren with its London-based electric-vehicle startup Forseven Holdings, Bloomberg reports.

At that point, the combined company will start producing high-end sport utility vehicles and sedans, following a blueprint that has been successful for Ferrari, Lamborghini and Porsche, the news agency said.

CYVN plans to announce the move in the coming weeks, with former Jaguar Land Rover executive Nick Collins in charge of the merged automaker.