Cazoo’s $8.1 Billion Business Combination with SPAC AJAX I
March 29, 2021
On March 29, 2021, Cazoo Holdings Limited (“Cazoo”), the UK’s leading online car retailer, and AJAX I, a publicly‑traded special purpose acquisition company (SPAC), announced the signing of a definitive business combination agreement which values the combined company at a pro forma enterprise value of approximately $7.0 billion and a pro forma equity value of approximately $8.1 billion. Upon closing of the proposed transaction, the combined company will be named Cazoo and listed on the New York Stock Exchange. Cravath, together with Slaughter and May, is representing DMGT, which owns a 20% stake in Cazoo through its venture capital arm dmg ventures, in connection with the transaction.
The Cravath team is led by partner Richard Hall and includes associate Charles A. Dobb on M&A matters, partner Nicholas A. Dorsey on capital markets matters, and partner J. Leonard Teti II and associate Leon B. Dalezman on tax matters. Christina M. Drakeford also worked on M&A matters.
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People
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LL.M., 1988, Harvard Law School
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LL.B., 1986, University of Melbournewith Honors
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B.Com., 1984, University of Melbournewith Honors
- New York
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J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
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M.Acc., 2006, Case Western Reserve Universitysumma cum laude
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B.S., 2006, Case Western Reserve Universitysumma cum laude
- New York
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
- New York
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