Mivan, Lagan: Merger talks end without agreement

Directors of Mivan and Lagan had been holding discussions about a merger

Merger talks between two of Northern Ireland's largest construction firms have ended without agreement, the BBC understands.

The directors of Mivan and Lagan Group Holdings had been in discussions late last year.

Both companies had been considering the benefits of forming a larger organisation.

Between them, the two companies employ hundreds of staff in Northern Ireland and other locations.

Lagan Group is owned and run by Kevin Lagan and has interests in quarrying, cement, building materials, house building and civil engineering.

Mivan, which is based in Antrim, has specialities in high-end fit outs and overseas contracting.

However, it was badly hit in recent years by a disastrous foray into property development in Romania.

That prompted a restructuring of the business, which returned to operating profit in the year to June 2012.