Anhui Conch Cement Co - May 2014
US-based The Capital Group has reportedly acquired 5.55m shares in Anhui Conch Cement Co Ltd, at a cost of HKD159.21m (US$20.53m). The deal gives Capital Group a 9.25 per cent stake in the cement producer. The news comes as Anhui Conch shares slumped 3.2 per cent in mid-May as an unexpected slowdown in industrial output and investment growth fuels fears that China's economic crisis is deepening. The government has also introduced a curb on interbank borrowing that is expected to further exacerbate the situation.