British car seller Cazoo accelerates after "de-SPACing"

Vroom

27/08/2021 17:02

** Cazoo Group Ltd  CZOO.N  shares up ~9% at $9.51 in
online used car seller's official U.S. debut on Fri
    ** CZOO commences trading on NYSE after London-based co
completes merger with AJAX 1, special-purpose acquisition co
(SPAC) led by billionaire investor Dan Och  urn:newsml:reuters.com:*:nBw63dsnna
    ** The $7 bln deal, including debt, announced in Mar gives
Cazoo $1 bln to help expand its footprint across the UK and
mainland Europe  urn:newsml:reuters.com:*:nL8N2LP0I6
    ** Cazoo operates similar model to U.S. peers Carvana
 CVNA.O  and Vroom Inc  VRM.O 
    ** CZOO shares have current market cap of ~$850 mln, per
Refinitiv data
    ** CVNA shares have risen ~40% in 2021 and have ~$59 bln
current market value, while VRM shares have fallen ~35% this
year and have current market cap of ~$3.7 bln

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))