Cazoo, the UK’s leading online car retailer, announces listing on the NYSE in a $ 7.0 billion commercial merger with AJAX.
Cazoo is one of the fastest growing digital companies in Europe, growing over 300% year-on-year, with revenue forecast for 2021 close to $ 1 billion. Founded in 2018 by Alex Chesterman, it announced a $ 7 billion merger with the listed American Spac founded by Dan Och Ajax I, thus resulting in listing on the NYSE in New York. Upon closing of the transaction, Cazoo’s current shareholders will own approximately 79% of the combined company. The board of directors of Cazoo and AJAX unanimously approved the transaction, which must receive the green light from shareholders and regulators. According to forecasts, the closing will be in the third quarter of 2021.