Morgan Stanley exits Shanshui Cement

Morgan Stanley's private equity unit sells its remaining 8.8% stake in the Chinese cement producer for $222 million.

Morgan Stanley exits Shanshui Cement

Morgan Stanley has sold a HK$1.73 billion $222 million block in China Shanshui Cement, taking advantage of a recent rally in the Chinese cement producer's share price. The transaction cleared the last batch of Shanshui shares held by the US bank, which invested in the company before its IPO in 2008 and has made numerous sell-downs since April 2009.

The shares were held by a fund owned by Morgan Stanley's private equity unit,...

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