Abu Dhabi-based investment firm CYVN Holdings has finalized a deal to acquire McLaren's sports car business from Bahraini sovereign wealth fund Mumtalakat.

The deal also gives CYVN a non-controlling stake in McLaren's racing business, the Abu Dhabi government said in a statement.

The two sides had signed the deal in early November without disclosing many details.

CYVN said that the deal will give McLaren access to additional capital, advanced engineering expertise and technology, particularly in the field of electric vehicles.