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Investment in Cazoo

Daily Mail and General Trust plc (DMGT)
Investment in Cazoo

01-Oct-2020 / 08:18 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


 

1 October 2020

 

Daily Mail and General Trust plc (DMGT)

Investment in Cazoo

 

DMGT notes that Cazoo, which aims to transform the way people buy used cars in the UK and is one of the country's fastest growing technology businesses, has announced that it has successfully raised an additional £240m of funding.  New and existing investors have participated at an enhanced valuation to previous funding rounds.

 

Cazoo has created significant value for DMGT since it launched its services to customers in December 2019 and DMGT remains a supportive investor.  

 

dmg ventures, which is responsible for DMGT's minority stakes and early-stage investments, is participating in the round, investing £34m, and DMGT's stake in Cazoo will now be c.22%, or c.20% on a fully diluted basis.  Cazoo will continue to be treated as an investment in DMGT's financial statements.

 

Cazoo's announcement is available at www.cazoo.co.uk/press.

 

Enquiries

Investors:

 

Tim Collier, Group CFO

+44 20 3615 2902

Adam Webster, Head of Investor Relations

+44 20 3615 2903

 

 

Media:

Doug Campbell / Paul Durman, Teneo

 

+44 20 7260 2700

 

Market Abuse Regulation

The information communicated in this announcement includes inside information.

 

About DMGT

DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment.  The Group takes a long-term approach to investment and has market-leading positions in consumer media, insurance risk, property information, education technology and events & exhibitions.  In total, DMGT generates revenues of around £1.3bn.

 

Person responsible for arranging the release of this announcement:

Fran Sallas, Company Secretary

+44 20 3615 2904

 

 

 



ISIN: GB00BJQZC279
Category Code: MSCH
TIDM: DMGT
LEI Code: 4OFD47D73QFJ1T1MOF29
Sequence No.: 85210
EQS News ID: 1138149

 
End of Announcement EQS News Service

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