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 10 2015 - Al Masah plans USD299m healthcare expansion across GulfMENAFN
(MENAFN) Al Masah Capital Limited has revealed plans to invest around USD299 million to support the growth and regional expansion of its newly-rebranded healthcare private equity initiative.The ...

 Oct 10 2015 - UAE Eagle Hills starts work on USD3b Belgrade Waterfront projectMENAFN
(MENAFN) Eagle Hills, a UAE-based private investment and real estate development company has announced the start of construction of its flagship development in Belgrade.Belgrade Waterfront, the ...

 Oct 10 2015 - Dubai's hotel revenues down 10.1 percent in AugustMENAFN
(MENAFN) Four- and five-star hotels in Dubai reported weakening performance levels in August, with revenue per available room (RevPAR) declining 10.1 percent to USD147.45.Figures from hospitality ...

 Oct 10 2015 - UAE-All Blacks look to perfect their edgeKhaleej Times
(MENAFN - Khaleej Times) Even without a limping Richie McCaw the All Blacks go into their final group game against Tonga insisting they are ready for the World Cup ...

 Oct 10 2015 - UAE-Work place etiquette to abide byKhaleej Times
(MENAFN - Khaleej Times) Last week I was invited to facilitate an Emotional Intelligence training programme for 22 participants at an interior decorating firm. Their ...

 Oct 10 2015 - Asiri hails UAE s role in Arab coalition says no safe havens to rebellious militiasEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th October 2015 (WAM) - Spokesman of the Saudi-led Arab coalition forces Ahmed Asiri has praised the played by the UAE in the coalition and the ...

 Oct 10 2015 - Hamdan bin Mohammed Launches 'Taqdeer Award' to Recognize Excellence in Labour Welfare PracticesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) - Crown Prince of Dubai: "The Award reflects the importance that Dubai places on ensuring progressive labour practices in line with global standards" - ...

 Oct 10 2015 - Saudi-Celebrity clockmaker thanks KSA on arrivalArab News
(MENAFN - Arab News)JEDDAH: Talented American student of Sudanese origin Ahmed Mohammed Al-Hassan arrived in Jeddah on Friday morning to perform Umrah and visit his relatives. The Kingdom last week ...

 Oct 10 2015 - Israelis worried but defiant amid wave of stabbingsGulf Times
(MENAFN - Gulf Times) Israelis are deeply unnerved in the midst of a spate of stabbings that have brought back memories of previous Palestinian uprisings, but say they are ready to "confront" any ...

 Oct 10 2015 - Kingdom job seekers' paradiseArab News
(MENAFN - Arab News)JEDDAH: The Eastern Province Riyadh and Jeddah are among the most sought after locations for job seekers in the Middle East North Africa (MENA) region a new study has found. The ...




Click to Apply


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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

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