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Negotiations between DNV and Intertek discontinued
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."
Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world. From auditing and inspection, to testing, quality assurance and certification, Intertek people are dedicated to adding value to customers' products and processes, supporting their success in the global marketplace. Intertek has the expertise, resources and global reach to support its customers through its network of more than 1,000 laboratories and offices and over 25,000 people in over 100 countries around the world.
DNV is a global provider of risk management services, helping customers to safely and responsibly improve their business performance. DNV is an independent foundation with the purpose of safeguarding life, property and the environment. Through its network of 300 offices in 100 countries, the company serves a range of industries with a special focus on the maritime and energy sectors, combining its technology expertise and industry knowledge.