McLaren Automotive Sold to CYVN

[SSO]

Deal just closed. McLaren Automotive has been sold to CYVN. Just did a short analysis of it.

[GT3ZZZ]

Doing SSO's work for him

https://ssoreport.com/mclaren-cvyn

[cliffords]

It's a bit of a non story. They already had a controlling stake in the automotive businesses. Now you could argue they have a larger stake .
They also have a small stake , non controlling right now, in the F1 business.

[rallye101]

Is this boring or fascinating?

[ex-devonpaul]

rallye101 said:

Is this boring or fascinating?

Definitely one or the other

I particularly liked
“This acquisition marks a defining moment in CYVN’s vision to build a leading, globally connected mobility platform and underscores Abu Dhabi’s growing role as a global centre of excellence for innovation in advanced mobility."
[...]
"As part of its broader vision, CYVN is focused on creating a smart mobility platform by partnering with global industry leaders to deploy capital, engineering and design excellence, leading-edge technology, and experienced leadership in advanced mobility." which basically looks like someone threw a couple of key words at ChatGPT and asked it to come up with a press release.

In fact the word "car" appears nowhere in this, and "Vehicle" only appears as "Investment vehicle". If it wasn't for a single appearance of the word "Automotive" you'd think they've bought McLaren baby buggies.

[SSO]

cliffords said:

It's a bit of a non story. They already had a controlling stake in the automotive businesses. Now you could argue they have a larger stake .
They also have a small stake , non controlling right now, in the F1 business.

Not really, this is the first time CYVN has bought into McLaren in any form.

[cliffords]

SSO said:

cliffords said:

It's a bit of a non story. They already had a controlling stake in the automotive businesses. Now you could argue they have a larger stake .
They also have a small stake , non controlling right now, in the F1 business.

Not really, this is the first time CYVN has bought into McLaren in any form.

Yes really. The company they bought it from, they were already in a JV with since earlier this year. The date of the JV would have represented the first time they had bought into McLaren in any form.
I have not looked it up but it was late Summer as I recall. That's why this is a non story today.

[LotusJas]

CYVN aka "Loadsamoney"

Great news for the future of the brand

[SSO]

LotusJas said:

CYVN aka "Loadsamoney"

Great news for the future of the brand

Agree, I think CYVN will be a good steward. Definitely have very deep pockets and in terms of Middle East politics, its a plus for both sides.