John Laing has formed a £300m joint venture with Commonwealth Bank of Australia.
The collaboration will enable the two to bid on British hospital and European road projects worth up to £6bn over the next three to five years.
Laing has also acquired the remaining 50% of UK Highways M40.
The Laing family yesterday sold half their stake in the company, making £38.2m. The family still owns 4% of the company.
References: The Times (Compact) 29/06/04 page 40 (Need to know), page 45 (Smaller Capitalisation Shares, Tempus), Financial Times 29/06/04 page 27, The Daily Telegraph 29/06/04 page 31, The Independent 29/06/04 p
