Quotes: US 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 1 2014 - Qatar- Super Barshim leaps to goldThe Peninsula
(MENAFN - The Peninsula) Watch out world of athletics, there's another Barshim on the rise. Literally.Qatar created sporting history in Incheon yesterday when high-jumping brothers Mutaz and Muamer ...

 Oct 1 2014 - Barshim bags goldThe Peninsula
(MENAFN - The Peninsula) Qatar's Mutaz Barshim, gold medal winner in the men's high jump, poses for a picture with Qatar Olympic Committee Secretary-General Sheikh Saoud bin Abdulrahman Al Thani and ...

 Oct 1 2014 - Court jails 68 pro-Mursi protestersThe Peninsula
(MENAFN - The Peninsula) An Egyptian court sentenced 68 people to up to 15 years in prison yesterday over protest clashes, in the latest mass sentencing of supporters of ousted Islamist president ...

 Oct 1 2014 - US, UK raids seek to reverse IS advancesThe Peninsula
(MENAFN - The Peninsula) US warplanes launched multiple strikes against Islamic State fighters in Iraq and Syria yesterday, seeking to turn up the heat on jihadists as Britain carried out its first ...

 Oct 1 2014 - Emirates A380 lands in TehranThe Peninsula
(MENAFN - The Peninsula) The Iranian captain of an Airbus A380-800 airctaft of Emirates Airline holds an Iranian national flag after landing at Tehran's IKA airport yesterday. Emirates Airline made a ...

 Oct 1 2014 - Gaza sends lions to Jordan after war damages Al Bisan zooThe Peninsula
(MENAFN - The Peninsula) Three traumatised lions entered Israel from Gaza yesterday on their way to a safer home in Jordan after their zoo was largely destroyed during the conflict in the Palestinian ...

 Oct 1 2014 - Qatar- Safe School programme to cover more schoolsThe Peninsula
(MENAFN - The Peninsula) Qatar Red Crescent (QRC) has launched the second version of its 'Safe School' programme for the academic year 2014-2015, with plans to expand its scope to encompass 25-30 ...

 Oct 1 2014 - Qatar- 18th Inter-School Quiz starts on Oct 30The Peninsula
(MENAFN - The Peninsula) The 18th Inter-School Quiz will be held at Birla Public School Auditorium on October 30 and 31.The quiz contest is open to children of all nationalities and will test the ...

 Oct 1 2014 - Qatar- Katara Eid festival to feature astronomy show, circus on iceThe Peninsula
(MENAFN - The Peninsula) An array of events that combine knowledge and entertainment are set to enthrall visitors to Katara during the upcoming Eid Al Adha holidays.Announcing the line-up of events ...

 Oct 1 2014 - Qatar- Msheireb ground to host Eid prayers againThe Peninsula
(MENAFN - The Peninsula) The historic Eid Prayer Ground located at Msheireb Downtown Doha will be open to the public for Eid Al Adha prayers this week, Msheireb Properties said yesterday.In the last ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help