UK online car seller Cazoo to float for $7bn on NYSE

Blog By : Adil Kharmiz

Company’s listing in New York using Spac process will deliver $1.35bn windfall for DMGT

British online car retailer Cazoo will make its stock market debut in New York rather than London through a special-purpose acquisition company (Spac), after agreeing a deal that values the company at $7bn (£5bn).

Cazoo is set to merge with Ajax I, led by the billionaire US investor Dan Och, making it the latest company to take advantage of a growing Spac trend.

Continue reading...By: Adil Kharmiz