Quindell in Ai Claims takeover
Quindell Portfolio has bought a further 47.7% of Ai Claims Solutions for £3.1m and announced its intention for a complete takeover offer of the company.
The purchase by Quindell took its shareholding in the accident management company to 77.6%.
It bought 29,070,146 shares from five shareholders in exchange for £3.1m cash and the issue by Quindell of 50,369,001 new ordinary shares of 1 pence each in the company.
As a result of the acquisition, which the company said was made with the consent of the board of Ai Claims, Quindell is obliged to make a mandatory cash offer for the remaining shares.
Rob Terry, chairman and chief executive of Quindell
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