Cazoo agrees to $7-bn SPAC deal with Dan Och in blow to London

The firm previously weighed plans for an initial public offering in London

Cazoo Ltd. will list in New York after selling itself to hedge-fund founder Dan Och’s blank-check company in a deal valued at $7 billion, turning its back on a potential initial public offering in London.
 

The combination with special-purpose acquisition company Ajax I will raise about $1.6 billion in proceeds for the company, including $805 million in a cash trust from the SPAC and another $800 million from Ajax’s sponsors, Cazoo said in a statement on Monday. London-based Cazoo will be listed in New York after the deal closes, and Och said he plans to join the company’s board.
 

Cazoo