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Laing O’Rourke to sell Australian business

The UK engineering and construction firm has announced its intentions to sell its Australian arm of the business following strong interest in the market.

The UK engineering and construction firm has announced its intentions to sell its Australian arm of the business following strong interest in the market.UK engineering and construction firm Laing O’Rourke, has announced its intentions to sell its Australian arm of the business.

Following a strategic review of its business portfolio during the fourth quarter or 2015, as well as expressions of interest from interested parties in acquiring parts of its business, including in Australia, the company made a statement in January that it would commence with a formal sales process.

The company has appointed HSBC Investment Banks to lead the process.

In its announcement, the company asserted that a key conclusion of its review was that the European business and the UK in particular was very well placed for strong growth potential. The statement continued that this growth potential will be further fueled by the government’s renewed focus on infrastructure and new housing.

It concluded that the company will focus on streamlining its European operations while bolstering its position in off-site building and advanced digital engineering.

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