Quindell takes Ai Claims stake to 77%

QUINDELL Portfolio, the AIM-listed outsourcing group, has bought another chunk of shares in Ai Claims Solutions, and now plans to launch a formal takeover offer.

Quindell;s acquisition of 47% of Blackpoll-based Ai’s shares for £3.1m means it now owns more than 77% of its shares,and wants to buy the remainder too.

Quindell took a 30% stake in Ai Clams in January. For the year ended 30 June 2011, the businesss made profits of £2.7m and in the six months to 31 December 2011, it made profits of £0.9m.

Rob Terry, chairman and chief executive of Quindell said: “Now that Ai Claims is a subsidiary of Quindell we will continue to lower the cost of claims for the insurance industry, and work with major insurers, looking to offer them the choice of a combined accident management, credit hire, legal services and medical services solution that will be unique in the UK market place, or of taking individual services according to their specific requirements.”  

As well as buying Ai Claims, Quindell has recently acquired Liverpool-based personal injury law firm Silverbeck Rymer.

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