Deals
Samena Capital Agrees to Buy 31% Stake in U.A.E.’s RAK Ceramics
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Samena Capital, an investment firm managing about $700 million, agreed to buy a 31 percent stake in Ras Al Khaimah Ceramics as the owners of the world’s biggest maker of ceramic tiles seek to raise funds.
Sheikh Saud bin Saqr Al Qasimi, ruler of the emirate of Ras al Khaimah, will sell 250 million shares to Cayman Islands-incorporated Samena Limestone, RAK Ceramics said today in a filing to the Abu Dhabi Stock Exchange, without disclosing a value for the deal. The stake is worth about 958 million dirhams ($261 million) based on RAK’s closing stock price yesterday, according to data compiled by Bloomberg.