Cazoo drops 4% on selling Italian business to Aramis Group

Oct. 31, 2022 4:18 PM ETCZOOBy: Manshi Mamtora, CFA
  • Aramis Group SA and Cazoo (CZOO) have reached an agreement for Aramis Group to acquire 100% of the capital and voting rights of Cazoo Trading Italy, which will be rebranded with immediate effect to brumbrum.
  • Company sells around 1,600 used vehicles B2C each year with annual revenues of around €30M.
  • The transaction is not subject to any conditions precedent, including antitrust aspects and the company will be integrated within Aramis Group with immediate effect.
  • Stock declines 4.4% during after market hours.

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