McLaren Racing takes on new co-ownership with immediate effect

CYVN Holdings has completed the acquisition of McLaren Automotive from Bahrain Mumtalakat Holding Company, with the Abu Dhabi-based investment company also taking a minority stake in McLaren Racing.

It means fresh investment and a new co-owner of the company that holds McLaren's Formula 1, Formula E and IndyCar outfits under its wing.

The activities of the racing arm remain unchanged and continue to operate completely independently of the McLaren Automotive business. Mumtalakat Holdings therefore remains a major shareholder, Paul Walsh remains executive chairman and Zak Brown CEO of McLaren Racing.

“We welcome the news of the deal completion," said Walsh.

"The investment will no doubt accelerate the next chapter in McLaren Automotive’s growth, provide long-term stability and help future-proof the business.

"We are excited about the possibility to collaborate even more closely with our colleagues at Automotive as well as our shareholders going forward to fully capitalise on opportunities for growth and global expansion of the McLaren brand.”

Brown added: “McLaren Racing has been on an incredible growth trajectory over the past few years as we made our way back to the front of the grid, where this storied team belongs.

"We’re in rude health and incredibly excited about the future – our sport has never been in a better place. The completion of the deal and investment in the wider business will allow us to continue on that growth path going forward.”