Oslo: Further to Intertek Group plc’s (Intertek) and Det Norske Veritas (DNV) announcement on 20 November 2009, Intertek and DNV today confirm that they are discontinuing their discussions in relation to the proposed transfer of the majority of DNV’s Business Assurance Division to Intertek.
DNV CEO Henrik O. Madsen and Intertek Group CEO Wolfhart Hauser commented jointly:
"After intensive discussions and reviews, we have concluded that a satisfactory transaction can not be executed in light of various unanticipated complexities within a reasonable time period. We both continue to believe that the contemplated transaction would have had significant strategic and financial benefits to both Intertek and DNV."
Date: 26 April 2010