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
 Jul 5 2015 - Palestinian Foreign Minister Welcomes UN Council Resolution on Ensuring Accountability for Violations of International Law in Occupied Palestinian TerritorySaudi Press Agency
(MENAFN - Saudi Press Agency) Palestinian Minister of Foreign Affairs has welcomed the adoption of a UN resolution on holding accountable all those who committed serious human rights violations and ...

 Jul 5 2015 - Saudi Telecommunications Company Registers SR 2 Billion Net Profits In 2nd QuarterSaudi Press Agency
(MENAFN - Saudi Press Agency) Saudi Telecommunications Company achieved net profits amounting to SR 2 billion in the second quarter of the fiscal year, 2015.In a statement issued today, the Company ...

 Jul 5 2015 - DIFC breaks ground for construction of Gate Village Building 11Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai International Financial Centre, DIFC, has broken ground for the construction of its 11th office building in the iconic Gate District, to be built at a ...

 Jul 5 2015 - NOC UAE grants ATCUAE accreditation as affiliate memberEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The UAE National Olympic Committee, NOC, has granted its accreditation certificate to the Automobile and Touring Club in the UAE, ATCUAE, bringing it into its ...

 Jul 5 2015 - Ammar Al Nuaimi attends closing ceremony of Ajman Holy Quran AwardEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Under the patronage of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince ...

 Jul 5 2015 - Curtain comes down on Dubai International Holy Quran AwardEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) After 20 days of activities, curtains were brought down on the 19th edition of the Dubai International Holy Quran Award, DIHQA, at the Dubai Chamber of Commerce ...

 Jul 5 2015 - Zakat Fund announces revenue of AED18,747,592Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The Zakat Fund has announced total revenues of AED18,747,592 during the first five months of this year, achieving an increase of 18.15 percent over the same ...

 Jul 5 2015 - Etisalat's reaches out to serve the needy during RamadanEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Etisalat is teaming up with charitable organisations across the United Arab Emirates to help serve those in need during the Holy Month of Ramadan.The company is ...

 Jul 5 2015 - Etisalat's reaches out to serve the needy during RamadanEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Etisalat is teaming up with charitable organisations across the United Arab Emirates to help serve those in need during the Holy Month of Ramadan.The company is ...

 Jul 5 2015 - ADU teams win Innovation and CEO awards at INJAZ UAEEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) In a major boost for aspiring entrepreneurs at the University of Abu Dhabi, ADU Enterprise has guided the university's female and male teams to win the CEO of ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


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