Investors waiting for regulators to cement Anhui deal
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. Published under Cement News
