Investors waiting for regulators to cement Anhui deal

Investors waiting for regulators to cement Anhui deal
Published: 04 September 2007

Morgan Stanley Private Equity Asia and the International Finance Corp. (IFC) are waiting for the necessary seals of approval from various departments in order to take up a joint 14.3% stake in Anhui Conch Cement Company Limited (‘Anhui Conch’), according to a statement from the latter. The transaction, if materialised, would represent a deployment of US$200 million from foreign investors to Anhui Conch and would be one of the largest commitments in China’s cement industry. Although both investors received approval from the State-owned Assets Supervision and Administration Commission in April last year, they have yet to receive the approval documents from the Ministry of Commerce and National Development and Reform Commission.