Business
Statement re Acquisition Disc
Statement re Acquisition Disc.
About this update from Intertek Group Plc
[{"type":"text","content":"\n RNS Number : 8211C Intertek Group PLC 20 November 2009 \n \n20 November 2009, 7:00am (UK) \nIntertek Group plc\nIntertek in discussion with DNV for Systems Certification Business\n\nIntertek Group plc (\"Intertek\"), the leading provider of quality and safety services to a wide range of industries around the world, today announces that it is in discussions with Det Norske Veritas (\"DNV\") in relation to acquiring the vast majority of its Business Assurance division. It is expected that the consideration will be settled in Intertek shares, resulting in DNV becoming a substantial shareholder in Intertek. The revenue of the business that may be acquired is expected to be approximately £200 million in 2009.\n\nDNV Business Assurance is a global leader in systems certification and with this acquisition Intertek would become one of the top three international systems certification providers, with the scale necessary to provide a seamless global service. Intertek believes that the acquisition would facilitate attractive growth opportunities for the Group. There is clear potential to provide DNV Business Assurance's range of auditing services, including systems certification, to Intertek's clients and to provide Intertek's broad portfolio of quality and safety services to DNV Business Assurance's clients. The combination of DNV Business Assurance and Intertek's product certification would also provide a compelling offering to local and global manufacturers, retailers and traders.\n\nDiscussions between the two companies are ongoing and due diligence is under way. Further announcements will be made as appropriate.\n\nContacts \nAston Swift / Sarah Ogilvie\nTelephone: +44 (0) 20 7396 3400 \[email protected] / [email protected]\n\nRichard Mountain / Sophie Kernon, Financial Dynamics\nTelephone: +44 (0) 20 7831 3113 \[email protected] / [email protected]\n\n\nNotes to Editors\nABOUT INTERTEK\nIntertek is the leading provider of quality and safety solutions serving a wide range of industr...