Abu Dhabi-based CYVN Holdings has agreed a deal to buy McLaren Automotive, with the promise of fresh cash injection for the British sports car maker.
Bahrain's sovereign wealth fund, Mumtalakat, which in April took full ownership of the McLaren Group (parent of the car firm and McLaren Racing), has confirmed a binding agreement has been reached with the 'specialist investment vehicle'.
The deal also includes a non-controlling stake in the McLaren Group.
The two firms have been "exploring a potential partnership" since October, with CYVN promising to "drive McLaren’s growth trajectory and accelerate progress in the advanced mobility sector".
