Quindell and Slater & Gordon have confirmed that they are in negotiations over the sale of Quindell’s legal division.
The struggling claims outsourcer announced on 2 January that it had entered into exclusive talks over the possible purchase of one of its operating divisions. In response to press speculation, it revealed today that those talks were taking place with Slater & Gordon.
“There can be no certainty that these discussions will lead to an offer for, or the disposal of, an operating division of the Group,” said the company in a statement.
Following the announcement, Slater & Gordon released a short note to the Australian Stock Exchange confirming ongoing discussions.
The Australian legal giant said that the discussions were “preliminary and incomplete”.
“As part of these arrangements, SGH is completing due diligence on a portfolio of Quindell personal litigation case file with rights to take a transfer of files over the coming months,” said the note.
“Contrary to press speculation today, SGH has not submitted any offer or proposal beyond the file transfer transaction. The file transfer transaction is not material.”