Anhui Conch Cement Co Ltd is seeking to acquire stakes in three listed companies via share swaps, according to local press reports.
The targetted companies are reported to be Jiangxi Wannianqing Cement Co Ltd, Zhejiang Jianfeng Group Co Ltd and Gansu Qilianshan Cement Co Ltd.
Beginning August, Anhui Conch Cement held several rounds of discussions with the Jinhua City State-owned assets office to acquire a 27.61 per cent stake in Zhejiang Jianfeng Group, the largest cement producer in Zhejiang province. The stake is held by Jinhua Tongji State-owned Assets Investment Co Ltd.
Anhui Conch is also in preliminary talks concerning Jiangxi Wannianqing and Gansu Qilianshan.
Anhui Conch Cement will likely purchase the stakes by issuing new shares, the report said.