Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Paul, Weiss Advises D1 Capital on PIPE Investment in Cazoo’s $7 Billion SPAC Merger
- Client News
- March 29, 2021
Paul, Weiss is advising D1 Capital Partners in connection with its original investment and new PIPE investment in the $7 billion business combination of Cazoo Holdings Limited, the U.K.’s leading online car retailer, and the special purpose acquisition company (SPAC) AJAX I. The transaction expected to close in the third quarter of 2021, includes up to $805 million AJAX cash in trust and an $800 million fully committed PIPE (private investment in public equity) at $10.00 per share led by the AJAX sponsors and D1 Capital Partners and joined by new and existing investors. The combined company will be named Cazoo and will be listed on the New York Stock Exchange under the new ticker symbol “CZOO” upon closing.
The Paul, Weiss team includes corporate partners Ted Ackerman, David Lakhdhir and Raphael Russo and tax partner David Mayo.