MS Asia Investment, an entity controlled by Morgan Stanley Private Equity Asia (MSPEA), Thursday announced here the signing of a definitive agreement to acquire shares in Anhui Conch Cement Company Limited (Conch), Chinese mainland's largest cement company.

According to MS Asia Investment, an investor consortium led by MSPEA will acquire a 14.3 percent stake in Conch from its parent company Anhui Conch Group. The investment is subject to approval by various government bodies and regulators in the mainland.

The consortium also includes the International Finance Corporation, the private sector arm of the World Bank Group.

Anhui Conch Cement Company Limited is the largest cement producer in mainland and the fifth largest in the world by capacity.

Source: Xinhua