Quindell has confirmed that a £640m deal with Slater and Gordon for its legal division is under consideration.
The Sunday Times first reported the possible deal on 15 March and Quindell was quick to move on 16 March to announce that the possible sale was one of “a number of deal structures” being discussed with the Australian legal behemoth.
“[Quindell] remains in discussion with Slater & Gordon [sic] regarding the possible disposal of the professional services division (PSD) of the Group,” said the claims outsourcer.
“Quindell confirms that a number of deal structures have been discussed with SGH including one with an up front value of £640 million and a share of receipts from settlement of Noise Induced Hearing Loss cases.
“However, there can be no certainty that these discussions will lead to any offer, or the disposal of, the PSD. Further announcements will be made, as appropriate, in due course,” it added.
(Pictured above: Andrew Grech and Neil Kinsella from Slater and Gordon)