- Cazoo Group Ltd CZOO has agreed to sell its German subscription business, Cluno GmbH, to ViveLaCar GmbH and The Platform Group GmbH & Co KG. The financial terms of the transaction were not disclosed.
- The total portfolio includes several thousand cars in the German market.
- The disposal concludes Cazoo's withdrawal from the German market as part of its strategy to focus exclusively on the U.K. market.
- The agreement includes 100% of the capital and voting rights of the company Cluno GmbH and the Cluno brand, along with the associated assets.
- All employees of Cluno will transfer to ViveLaCar GmbH as part of the agreement.
- Price Action: CZOO shares are trading higher by 8.49% at $2.94 on the last check Friday.
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