JPMorgan Chase acquires stake in Anhui Conch

JPMorgan Chase acquires stake in Anhui Conch
Published: 11 May 2010

JPMorgan Chase & Co, a US-based financial services firm, has acquired a stake in Anhui Conch Cement Company Limited, a China-based producer and seller different grades of cement and clinker for HKDD1600m (US$206.05m).

Under the terms of the transaction, JPMorgan has acquired 64.79m share at a price of HKD25.12 (US$3.23) per share.