John Laing sale mulled

Investment bank Greenhill has been appointed by John Laing to advise it on a potential sale or public listing.

The move would see the developer end its controversial relationship with fund manager Henderson, which bought the firm in 2006.

Henderson was sued by 22 pension funds following the acquisition, claiming that the manager should have invested directly in infrastructure assets rather than an organisation tasked with building infrastructure.

Despite the High Court ruling in favour of Henderson earlier this year, the presence of John Laing remains uncomfortable for the manager, making a sale or public listing an attractive option.

Greenhill also advised on Henderson’s acquisition of John Laing. Any sale or listing is expected to take place by 2015.

John Laing has laid off a large number of staff over recent months as it undergoes a strategic overhaul, including ending its involvement in bidding for new local asset-backed vehicles – a market it pioneered.