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Mumtalakat

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Latest Mumtalakat DevelopmentsAI Insights

Mumtalakat has entered a non-binding agreement with CYVN Holdings to sell a stake in McLaren Group. This potential deal could lead to CYVN Holdings owning the automotive business of McLaren. The partnership aims to provide McLaren with added capital, engineering expertise and technology advancements, with a particular emphasis on electric vehicles.1

The company achieved its highest net profit on record, with 2024 profits reaching BD363 million. This success is attributed to restructuring at McLaren Group and a collaboration with CYVN Holdings. Profits from sectors such as banking saw growth, although telecommunications earnings declined slightly. Aluminium Bahrain's profits also increased significantly.2

It has maintained its substantial stake in McLaren before eventually obtaining full ownership of the McLaren Group. Through a cash infusion and strategic sales, Mumtalakat strengthened its control over McLaren. The carmaker sells its vehicles through a network in over 40 global markets.5

Saudi Arabia's Public Investment Fund previously held a stake in McLaren but Mumtalakat acquired it. The company's history with McLaren dates back to 2007 and includes various financial support strategies.3

Mumtalakat's investments are part of broader initiatives, including the Strategic Investment and Collaboration Partnership which involves over £1 billion in investments into the UK. These investments are intended to foster cooperation in sectors like clean technology and manufacturing.4

Mumtalakat Overview

Bahrain Mumtalakat Holding Company BSC – or Mumtalakat – is Bahrain’s sovereign wealth fund, established by royal decree in 2006 and wholly owned by the Bahraini government.

Mumtalakat invests in assets in most sectors including education, aviation, healthcare, consumer and financial services, industrial manufacturing, real estate, tourism and logistics.

It does not invest in oil or gas.

Initial investments were primarily in Bahrain, with just 3 percent abroad, but since then they risen to over a third, covering the Middle East, North Africa, Europe and the US, with both minority and majority stakes.

It now holds stakes in more than 60 companies and has assets under management worth roughly $18 billion.

Mumtalakat holds stakes in some of Bahrain’s largest companies, including National Bank of Bahrain, Gulf Hotels Group, Bahrain Telecommunications Company (Beyon) and Aluminium Bahrain (Alba).

Further afield Mumtalakat owns stakes in companies including the British carmaker McLaren Group, Singapore Gulf Bank, Italian Racing Force, Germany’s FAI Aviation Group and Kuwait’s Gulf Cryo.

Mumtalakat News

Financial Harbour Towers in Manama. Bahrain's Mumtalakat is one of the Gulf's smaller sovereign wealth funds, with about $18bn of assets under management

Bahrain’s Mumtalakat reports biggest profit in its history

Bahrain’s sovereign wealth fund Mumtalakat has posted the biggest profit in its 19-year history, reversing a loss in 2023, according to the Bahrain News Agency. Its consolidated net profit reached BD363 million ($963 million) in 2024, versus a net loss of BD497 million the year before, the state-run agency reported. “The past year marked a […]

McLaren's Oscar Piastri passes the chequered flag to win the Bahrain Grand Prix on April 13, 2025

Saudi Arabia explores options to own F1 team

Owning a Formula 1 team could be the next step for Saudi Arabia after sponsoring the sport and hosting a grand prix, according to the chairman of the kingdom’s automobile and motorcycle federation. Prince Khalid Bin Sultan Al-Abdullah Al-Faisal told reporters in a video call ahead of this weekend’s race in Jeddah that the interest […]

Mubadala Investment Company Group CEO Khaldoon Khalifa Al Mubarak. Mubadala's spending overtook that of Saudi Arabia's PIF in 2024

Vast Gulf wealth funds splinter to make targeted investments

Sovereign wealth funds in the Gulf are increasingly doing business via wholly-owned or affiliated entities as they become too big to manage specialised investment efforts, industry watchers are saying. MGX, an Emirati artificial intelligence-focused vehicle founded last year by Abu Dhabi’s fund Mubadala and the artificial intelligence company G42, made a splash by being one […]

Alba, which was launched in 1971 and employs 3,200 people, is the oldest aluminium smelter in the Middle East

Alba and Ma’aden end merger discussions

Aluminium Bahrain (Alba) and the Saudi Arabian Mining Company (Ma’aden) have ended talks over a merger of the two Gulf manufacturing giants. Discussions had been taking place since last year and it had been hoped that a deal could be completed in the first quarter of 2025, according to Alba’s chief executive, Ali Al Baqali. […]

Alba Ma’aden delay aluminium

Alba and Ma’aden delay merger to Q2 2025

The deadline on a potential merger between Aluminium Bahrain (Alba) and subsidiaries of Saudi Arabia’s Ma’aden has been extended into the second quarter of 2025. It had been hoped that a deal between the two manufacturing giants could be completed in the first quarter, according to Alba’s chief executive, Ali Al Baqali. But a note […]

Saudi sport sponsorship

Saudi Arabia expands global reach with 900 sports deals

Saudi Arabia’s vast number of sports sponsorship deals, now in excess of 900, are part of the kingdom’s strategy to diversify away from oil but their long-term success will not be known for some time to come, experts have said. Play the Game, a publicly funded sports ethics institute in Denmark, compiled a list of […]

Bahrain airport city

Bahrain to tender for ‘airport city’ in early 2025

Bahrain will issue tenders early next year to build a new “airport city” based around the existing Bahrain International Airport. The project will include commercial and residential development, according to Mohamed Yousif AlBinfalah, CEO of Bahrain Airport Company. “We have a significant amount of space that will be coming to the market soon for development,” […]

People queueing to use a National Bank of Bahrain ATM in Manama. The merger with Bank of Bahrain and Kuwait was announced this year

Bahrain bank merger to complete in 2025

A merger between National Bank of Bahrain (NBB) and Bank of Bahrain and Kuwait (BBK) is expected to be completed in 2025. Plans to join the two banks were announced to the Bahrain Bourse earlier this year and preliminary proceedings started this month. “Considering that we are almost at the end of this year, I […]

Audi Qatar F1

Audi slams brakes on Qatari F1 buyout rumours

Carmaker Audi has said its F1 team is not for sale, scuppering online rumours that the company was preparing to sell to Qatar’s QIA sovereign wealth fund. “We do not engage in speculation. The team is not for sale,” an Audi F1 spokesperson told AGBI on Tuesday. Qatar already holds a major stake in VW, […]