Anhui Conch Cement purchases stakes.

Anhui Conch Cement purchases stakes.
Published: 05 January 2004

Anhui Conch Cement Co Ltd  said it and its subsidiary, Anhui Ningguo Cement Factory, signed an agreement on Dec 25 with Anhui Changfeng Cement Co Ltd to purchase a 10 pct stake the latter held in Anhui Changfeng Conch Cement Co Ltd for 1.0 mln yuan in cash.  Upon completion of the deal, the listed company will hold 90 pct stake or 20 pct of registered capital of Changfeng Conch Cement, its subsidiary will have 10 pct.  Shandong Nanhua Co Ltd signed an agreement on Dec 26 with its subsidiary, China Cement Co Ltd, to sell an 18 pct stake the former held in Shanghai Conch Pearl Cement Co Ltd for 2.47 mln yuan, the listed company also said.  Upon completion of this deal, the listed company will hold a 76.2 pct stake or 18 pct of registered capital of Conch Pearl Cement, and its subs idiary will also have an 18 pct stake.