IFC buys shares in China’s Anhui Conch
The World Bank’s investment arm, the International Finance Corp, acquired 48 million shares in Anhui Conch Cement Co Ltd, China ’s largest cement maker, the China Daily reported. The report did not say what stake size the purchase is equivalent to. Morgan Stanley Private Equity Asia will also acquire 132 million shares in Anhui Conch, which is majority-owned by the Anhui provincial government, the report quoted the IFC as saying. A full report on Anhui Conch appears in the January 2006 issue of International Cement Review.