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Viking Global Invests in Cazoo

Paul, Weiss is advising funds affiliated with Viking Global Investors in a $630 million convertible note issuance by Cazoo, a leading online car retailer in Europe. The parties entered into a note purchase agreement on February 9 and anticipate closing the transaction on or about February 16.

Cazoo intends to use the proceeds of the notes issuance for general corporate purposes, including M&A activity and share buybacks. Mubadala Investment Company, D1 Capital and Willoughby Capital, among others, are investing alongside Viking Global in the convertible note issuance.

The Paul, Weiss team includes corporate partners Tracey Zaccone and Paul Sandler; and tax partner David Mayo.

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