(Alliance News) - Daily Mail & General Trust PLC on Thursday said it boosted its interest in fast-growing used car portal Cazoo, after taking part in its GBP240 million fundraise.
DMG Ventures, responsible for the Daily Mail owner's early-stage investments, injected a further GBP34 million in Cazoo during the fundraise.
It boosts DMGT's stake to about 22%, or roughly 20% on a fully diluted basis.
"Cazoo has created significant value for DMGT since it launched its services to customers in December 2019 and DMGT remains a supportive investor," Daily Mail said.
DMGT shares were 0.8% higher at 655.00 pence each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.