Quindell and 360Globalnet sale

Being a Quindell shareholder is a bit like being a mushroom. You are constantly in the dark, covered in muck and receive no nutrients.

It is necessary when trying to find out what is happening within the Quindell business to rely on information from other sources.

Today it has been established via the Blueshare forum (see here ) and then via the Quob Park Estate website (see here) that 360Global has been the subject of a management buyout.

Insurance companies such as Direct Line use 360Globalnet technology.

Paul Stanley has bought from Quindell the c59% owned by QPP for c£6m. Paying £1m for c.10% in 2014 and c£5m for c49% in 2015.

What is interesting is Quob Park Estates have provided Paul Stanley with £5m funding to complete the deal. Rob Terry, owner of Quob Park Estate will know the value of 360Global  and you can therefore conclude that 49% of the business is he believes worth far in excess of £5m.

Many Quindell private investors are fed up with being treated like mushrooms and I wouldn’t be surprised if the majority don’t reinvest their capital returns from the business in Quindell.

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One response to “Quindell and 360Globalnet sale

  1. Sort of agree. But 1p a share disposal of a non-core asset that was already announced for sale, being partially disposed isn’t ground-breaking news.

    Like

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