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
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Investors:
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Tim Collier, Group CFO
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+44 20 3615 2902
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Adam Webster, Head of Investor Relations
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+44 20 3615 2903
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Media:
Doug Campbell / Paul Durman, Teneo
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+44 20 7260 2700
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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:
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Fran Sallas, Company Secretary
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+44 20 3615 2904
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