Laing O’Rourke seeks buyer for Middle East business

Résumé détaillé

Laing O’Rourke has appointed Lumina Capital Advisors as an external adviser to identify a new owner for its Middle East business. Group CEO Cathal O’Rourke said the company ha ...

Laing O’Rourke has appointed Lumina Capital Advisors as an external adviser to identify a new owner for its Middle East business.

Group CEO Cathal O’Rourke said the company had decided to seek a new owner for its Middle East operations following a period of exceptionally strong growth for the business.

“Given this enviable set of circumstances, now is the right time to secure a new owner for the Middle East business to build on that strength moving forward,” he said.

In recent years, the Middle East business has delivered data centres for repeat clients, including Khazna and Equinix.

Operating in the region for 50 years, the company has worked on UAE developments such as Atlantis The Palm, Ski Dubai, Al-Raha Beach and Expo 2020, leveraging its industrialised construction methods.

“We have a proud 50-year legacy in the Middle East, delivering some of the region’s most iconic projects, and most recently working with repeat clients in the data centre sector,” said O’Rourke.

“The quality of our people and their work has built our reputation for delivery excellence in the Middle East and across our group, resulting in three consecutive record order books.”

The decision comes as the wider group focuses on its long-term infrastructure commitments elsewhere.

In its recent financial results, Laing O’Rourke reported a record order book of £17.2bn and another consecutive year of growth across its global operations.

Début de l'article, extrait de MEED. Pour lire la suite, ouvrez l'article chez le média.