Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Samena may buy RAK Ceramics stake  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/03/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN -Khaleej Times) samena capital an investment firm managing about 700 million is in talks to buy as much as 50 per cent of rak ceramics the world?s biggest maker of ceramic tiles according to two people familiar with the matter

Samena is in discussions to buy a 25 per cent to 50 per cent stake the people said asking not to be identified as the talks are private. samena which focuses on investments in emerging markets with offices in london dubai and hong kong is holding talks without a financial adviser and there is no certainty a deal may be reached the people said.

Rak ceramics said on march 9 it hired barclays and bnp paribas to explore “a range of strategic alternatives and transactions”. the company exports to more than 150 countries according to information on its website.

Merger and acquisition activity in the middle east is picking up as financial markets improve and companies seek regional expansion. abu dhabi national energy co said on march 2 the company and its partners will pay 1.6 billion in cash and assumed debt to buy two hydroelectric power plants in india while emirates telecommunications corporation or etisalat is in the process of completing its acquisition of vivendi’s controlling stake in maroc telecom for about €4.2 billion (5.7 billion).

Shirish saraf samena’s co-founder and chief executive officer declined to comment. rak ceramics said it hasn’t got any “intimation” from shareholders of an ownership change.

Rak ceramics’ profit last year climbed 27 per cent to 282 million dirhams the biggest jump in full-year profit since 2009. the shares almost tripled in 2013 and have jumped 25 per cent in abu dhabi this year giving the company a market value of dh2.93 billion (797 million).


Khaleej Times

  MENA News Headlines
 Oct 22 2016 - EU regrets withdrawal of South Africa from ICCKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, Oct 22 (KUNA) -- The European Union has expressed its "deep regrets "over South Africa's decision to initiate its withdrawal from the International ...

 Oct 22 2016 - Kuwait- KUNA main news for Saturday, Oct 22, 2016Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Local: KUWAIT -- With attendance of the visiting Queen Silvia of Sweden, Information Minister and Minister of State for Youth Affairs Sheikh Salman ...

 Oct 22 2016 - Swiss NGO honors Kuwaiti-based institute for global effortsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Nawab Khan BRUSSELS, Oct 22 (KUNA) -- The Arab Planning Institute (API), based in Kuwait, has been awarded the prestigious Gold Medal by the Crans Montana ...

 Oct 22 2016 - Kuwait- Info. Min. decides: Ban on primaries, reputation smearing, financial incentivesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Oct 20 (KUNA) -- The Minister of Information has issued a Ministerial Resolution stipulating total ban on primaries, tit-for-tat mudslinging among ...

 Oct 22 2016 - Boursa Kuwait ended last week with mixed performanceKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Oct 22 (KUNA) -- Boursa Kuwait ended last week with mixed performance, as the Price Index closed at 5,321.46 points, down by 0.12 percent from the week ...

 Oct 22 2016 - US Secretary of Defense to meet with Iraqi Prime MinisterKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BAGHDAD, Oct 22 (KUNA) -- US Secretary of Defense Ashton Carter arrived in Baghdad on Saturday to meet with Iraqi Prime Minister Dr. Haidar Al-Abadi along with a ...

 Oct 22 2016 - Kuwait- Info. Min. launches campaign for covering legislative electionsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Oct 22 (KUNA) -- Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Salem Al-Sabah announced on Saturday the launching of ...

 Oct 22 2016 - Nizzolo wins Stage 1 of Abu Dhabi TourKhaleej Times
(MENAFN - Khaleej Times) Reigning Italian champion Giacomo Nizzolo (Trek - Segafredo) won Stage 1 of the second Abu Dhabi Tour as he outsprinted John Degenkolb (Team Giant - Alpecin) and race ...

 Oct 22 2016 - UAE- Two jailed for sharing indecent video of disabled manKhaleej Times
(MENAFN - Khaleej Times) Two Arab nationals were sentenced to three months in jail by the Sharjah court for capturing photographs and videos of a mentally-retarded man in an indecent manner and ...

 Oct 22 2016 - Kuwait FM delivers lecture at Atlantic CouncilKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) WASHINGTON, Oct 21 (KUNA) -- Kuwait's First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah delivered a lecture at the Atlantic ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help