Sequoia, Lone Pine to invest in Auto1 – Bloomberg

Sequoia Capital Operations LLC and Lone Pine Capital LLC agreed to each buy around €50 million worth of stocks in Auto1 Group GmbH from DN Capital (UK) LLP, valuing the car trading platform at roughly €6 billion, Bloomberg News reported Jan. 18, citing people with knowledge of the matter.

The firms agreed to a six-month lock-up period. Sequoia and Lone Pine also expressed intention to each invest at least €50 million in Auto1's imminent IPO, according to the report.

An Auto1 spokesperson declined Bloomberg's request for comment, while DN Capital did not immediately respond. Representatives for Sequoia and Lone Pine could not be immediately reached.