22nd Jan 2015 16:55
LONDON (Alliance News) - Quindell PLC Thursday named law firm Slater & Gordon Ltd as the third party with which it is in talks regarding the possible disposal of one of its operating divisions.
The AIM-listed insurance claims outsourcing provider said on January 2 that it had entered into "exclusivity arrangements" with a third party, but at the time did not name the company or which operating division it is considering selling. Thursday's statement still didn't specify the operating division.
Quindell suffered a difficult 2014, hit by the departure of founder Rob Terry in the wake of unusual share transactions with Equities First Holdings LLC, its failure to move to the London Stock Exchange's Main Market, and a critical research note published by Gotham City Research LLC.
"There can be no certainty that these discussions will lead to an offer for, or the disposal of, an operating division of the group," the company said Thursday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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