Mumtalakat and CYVN take full ownership of McLaren Racing

Mumtalakat, Bahrain's sovereign wealth fund, and Abu Dhabi's CYVN Holdings have assumed full ownership of McLaren Racing after buying out minority shareholders, in a transaction that reports value the Formula 1 team at anywhere between about 3 billion pounds and as much as 5 billion pounds, McLaren Group said Tuesday. The deal transfers the remaining roughly 30 to 33 percent stake held by a consortium of investors, including MSP Sports Capital and funds managed by O'Connor and Ares, into Gulf ownership and simplifies McLaren's ownership structure ahead of an expected period of continued commercial expansion.

McLaren Group confirmed it had acquired all shares previously held by the cited minority investors. Reports on the price and exact valuation varied, with some placing the team at about 3 billion pounds and others suggesting figures north of 3.5 billion, extending to roughly 5 billion in one estimate. MSP Sports Capital said the terms of the transaction would remain confidential. A source familiar with the matter told one news outlet that the price could be higher than the lower-end estimates.

Executive Chairman Paul Walsh thanked the minority investors for their support...