Lord Roithermere

DMGT scoops £950m benefit from Cazoo investment

Lord Roithermere
Lord Roithermere
Cazoo is the brainchild of Zoople founder Alex Chesterm
Cazoo is the brainchild of Zoople founder Alex Chesterm

Daily Mail and General trust plc (DMGT)l the owner of The Daily Mail,  the company operates in over forty countries through its subsidiaries, whose investment in online car seller Cazoo could be worth  £950m ($1.35bn), an eight-fold return on its investment.

The DMGT half year results reveal it put an extra £34m into Cazoo last year and now owns 21 per cent of the business.

Lord Rathermere. DMGT chairman and biggest shareholder now sits on the Cazoo board. Cazoo is expected to float in New York later this year at $6bn value.

DMGT shares rose 28p to 867p.