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O'Rourke buys Laing construction unit.(O'Rourke Group PLC, John Laing PLC)(Brief Article)(Statistical Data Included)
Byline: Peter Moreira
LONDON -- A transaction worth [pound]1 announced Sept. 27 cost British construction company John Laing plc about [pound]140 million ($207 million) and slashed the value of the company's shares by half.
Laing, the company that built London's ill-fated Millennium Dome and Hong Kong's convention center, said it would sell its main commercial construction business for [pound]1 to privately held O'Rourke Group plc.
Laing will retain its housebuilding business and the division that bids on government projects. The company said it is looking into selling, within nine months, as much as [pound]120 million of assets from the two …
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