I haven't written about Quindell for a while so I thought loyal readers deserved a little update from Betaville.
I understand that since Quindell began looking at selling its legal services unit late last year to Australian law firm Slater & Gordon the Aim-listed company has also received approaches for several other divisions.
City sources tell me Quindell has had approaches for its stakes in: PT Health, a Canadian healthcare and rehabilitation services company; Business Advisory Service, a price comparison operator; and SMI Telecoms, a software solutions provider for the telecommunications industry.
Don't, though, expect a deal anywhere near the size of Slater & Gordon's £637 million purchase of Quindell's legal/professional services unit. I have been told offers for these smaller companies within Quindell have come in at the tens of millions level. And some of the approaches have been below the level at which Quindell would be willing to sell at.
On another note, some sources inform me Quindell is looking to hand back 112p a share back to shareholders once the £637 million sale to Slater & Gordon deal completes.
However, people close to the company say the board hasn't made a final decision yet on the exact amount of capital that will be given back to investors.
Quindell declined to comment.
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