Sept 2 (Reuters) - AnaeCo Ltd ANQ.AX :
* Says due diligence has commenced in relation to a potential corporate transaction
* Says potential transaction involves a Chinese based company becoming a major shareholder in AnaeCo
* Says non-binding term sheet has been executed by monadelphous as seller and the Chinese based company as purchaser
* Transaction will be subject to AnaeCo shareholder approval in relation to the conversion of the loan to equity
* The potential transaction is subject to the satisfactory outcome of legal due diligence to be conducted by the Chinese purchaser
* Source text for Eikon ID:nASX4SQyJB