Cazoo (CZOO) Sells Its Spanish Subscription Business

Cazoo Group Ltd (NYSE: CZOO) (“Cazoo” or the “Company”), the UK’s leading online car retailer, which makes buying and selling a car as simple as ordering any other product online, has sold its Spanish subscription business, Swipcar, to Renting Finders S.L. The financial terms of the transaction were not disclosed.

The disposal is a further step in Cazoo’s withdrawal from mainland Europe as part of its strategy to focus exclusively on the UK market. The agreement includes the sale of 100% of the shares of Swipcar 2017, S.L., along with the Swipcar brand and associated assets. Cazoo has now sold its assets in and exited from both the Spanish and Italian markets and expects to have largely concluded its withdrawal from France and Germany by the end of the year.

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