Quindell disposes of Nationwide stake
Quindell has today announced it has disposed of its minority investment in Nationwide Accident Repair Services.
On 27 February 2015, Quindell announced that the focus of its core business activities going forward would comprise two operating divisions: the professional services division and the technology division, and that the board would take appropriate action to deliver shareholder value from certain non-core assets.
Further to this, the company has announced it is disposing of its minority investment in Nationwide Accident Repair Services. The Company’s entire holding of 10,930,423 ordinary shares in NARS was sold on 4 March 2015 at a price of 65 pence per NARS share realising net proceeds of approximately £7.1m. The proceeds of the sale will be applied towards general working capital purposes.
For the full story on Quindell’s corporate action announcements please click here: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12270596.html