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Laing O'Rourke to sell Australian business

Laing O’Rourke is set to sell its Australian arm as part of a strategic review of the business.

Group chief executive Ray O’Rourke said that a number of potential buyers have come forward expressing interests in parts of the company.

“During the fourth quarter of 2015 the Laing O’Rourke group executive carried out a strategic review of its business portfolio, including options as to the allocation of capital over the remainder of this decade,” he said.

“This review was partially triggered following unsolicited approaches from a number of parties expressing interest in acquiring parts of our business, including our very successful Australian business.”

Mr O’Rourke said the European and UK business was well placed for strong growth as a result of the UK government’s renewed focus on infrastructure and housing.

He added: “If we are to seize these growth opportunities, further UK investments will be required, especially in areas that promote our competitiveness and the attractiveness of our offering to clients.

“The group and the European business will focus on streamlining its organisation and align its structures, processes and overheads to capture the full operational efficiencies and cost benefits which will flow from the current and future investments in offsite build and advanced digital engineering.

“This is an area in which the group intends to maintain its leadership position, maximise its competitiveness and continue to provide innovative solutions to its clients.”

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