AWG considers Morrison’s future

THE owner of a construction company at the centre of a £130 million (€193m) lawsuit is said to have appointed advisers to consider the sale of the business.

Anglian Water Group (AWG) has reportedly hired an investment bank and corporate finance house as part of its deliberations over the future of Morrison, the construction firm it bought for £263m (€390m) in five years ago.

The deal has been mired in controversy ever since, resulting in a High Court case alleging “misrepresentation” of Morrison plc’s accounts in the run-up to the purchase. The matter is due to be heard in London early next year.