Outsourcer continues discussions with Australian law firm Slater & Gordon
Quindell has extended the exclusivity period for talks over the sale of its legal services arm until 31 March.
The insurance outsourcer revealed on 22 January that it had entered exclusive talks to sell the division to Australian law firm Slater & Gordon.
After press speculation that talks had broken down, Quindell said on 2 February that the discussions were continuing.
In the latest announcement about the extension, Quindell said talks with Slater & Gordon “are progressing”.
It said: “The indicative terms being discussed would imply a significant premium to the company’s market capitalisation at the close of trading on 20 February 2015.
But it added that there was no certainty that the talks would lead to an offer for, or the disposal of, the legal services arm.
The company said: “Further announcements will be made, as appropriate, in due course.”