Bouygues SA (ENXTPA:EN) and Ferrovial, S.A. (CATS:FER) intends to acquire Australian operations of Laing ORourke Corporation Limited. Laing O'Rourke had three indicative approaches before Christmas, which triggered a move by the parent company to place the business on the block. Two of three bids are thought to be from Ferrovial and the third approach was from a party out of Asia.

It is understood the parties have to appoint investment banking advisers. Laing ORourke has appointed HSBC for the sale process. It is understood that Laing O'Rourke has not officially fired the starting gun on the sales process, but talks have been in progress with interested parties for some time.

Local groups are seen as less likely to be interested buyers in Laing O'Rourke as global groups, due to their operations overlap.