Laing O'Rourke seeking investor in construction business?

Laing O’Rourke is reported to be looking for an investor to take a 50% stake in the group’s construction division.

Thanks to a sparkling £45m pre-tax profit figure last year, the market value of the group's construction business has multiplied. A source close to the business said that Laing O'Rourke is now interested in tapping into the purse of a Middle East investor, which would enable the company to further expand its global operations.

The group’s investment assets, held in separate registered companies, are not said to be involved and would stay with Laing O’Rourke.

When asked to comment O’Rourke declined the offer. A spokesman for the group was left to pass back the tidings that “we do not accept questions from Contract Journal”.