Cazoo Weighs Merger With Blank-Check Firm Ajax I, Sky Reports
Cazoo Ltd. founder Alex Chesterman is mulling a merger with a blank-check firm that could value the U.K. used-car platform at as much as 6 billion pounds ($8.3 billion), Sky News reported, citing unidentified people familiar with the matter.
Special purpose acquisition company Ajax I is under consideration as one of the partners for Cazoo, and talks have been underway for several weeks, according to Sky.
Bloomberg reported last month that the online car dealer, which is backed by investors including BlackRock Inc., was weighing plans for an IPO in London.
Ajax I is also looking into alternative targets for a deal, Sky reported.
A Cazoo spokesman declined to comment to Sky on the talks with Ajax I and other SPACs. Ajax I representatives were contacted by Sky for a comment.
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