The Abu Dhabi government has reportedly shifted assets held by CYVN Holdings into the newly established L’imad Holding Company.
CYVN Holdings owns luxury automotive brand McLaren Automotive and also holds an equity stake in Chinese electric vehicle manufacturer Nio.
According to a Bloomberg report citing unnamed sources, the transfer is intended to strengthen L’imad’s balance sheet while simplifying the management of certain government investments under a single structure.
The report noted that McLaren has confirmed L’imad as its ultimate owner, while clarifying that CYVN remains its immediate parent company.
Bloomberg also said that a CYVN subsidiary holding an 18 per cent stake in Nio is now owned by L’imad, based on regulatory filings.
L’imad is chaired by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and has backed Paramount Global’s stalled bid to acquire Warner Bros Discovery.
The government-owned entity develops and manages a diversified portfolio across sectors including infrastructure and real estate, financial services and asset management, advanced industries and technologies, as well as urban mobility and smart cities, both within the UAE and internationally.
