2nd Feb 2015 12:37
LONDON (Alliance News) - Quindell PLC Monday moved to dismiss speculation about its "exclusivity arrangements" with law firm Slater & Gordon Ltd over the possible disposal of one of its operating divisions, confirming that talks about the disposal are ongoing.
In a statement, Quindell said that it will make an announcement if the exclusivity terminates in the future.
"There can be no certainty that these discussions will lead to an offer for, or the disposal of, an operating division of the group," Quindell said.
Last month, Quindell had said that it had entered into exclusivity arrangements with Slater & Gordon over the possible disposal of an operating division.
On January 23, Slater & Gordon said the discussions with Quindell were "preliminary and incomplete".
"As part of these arrangements, SGH is completing due diligence on a portfolio of Quindell personal injury litigation case files with rights to take a transfer of files over the coming months," Slater & Gordon said on that date.
Quindell shares were down 16% at 70.75 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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