DUBAI: Bahrain’s Mumtalakat and Abu Dhabi’s CYVN Holdings took full ownership of McLaren Racing on Tuesday in a deal that reportedly valued the reigning F1 champions at more than $4 billion.
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No financial details were given in a McLaren Group statement confirming the purchase of all shares held by MSP Sports Capital, funds managed by O’Connor Capital Solutions, Ares Sports, Media and Entertainment funds and Caspian Funds.
Sky News earlier reported the sale of the 30 percent stake would value the team at more than three billion pounds ($4.05 billion).
Bahrain sovereign wealth fund Mumtalakat will remain the majority shareholder with CYVN, majority-owned by the government of Abu Dhabi, having a non-controlling stake.
