Active Stocks
Sat Mar 02 2024 12:49:58
  1. Tata Steel share price
  2. 155.15 3.43%
  1. HDFC Bank share price
  2. 1,430.35 -0.06%
  1. State Bank Of India share price
  2. 773.05 0.49%
  1. Tata Motors share price
  2. 988.40 1.15%
  1. Wipro share price
  2. 522.65 0.67%
Business News/ Companies / Samena Capital acquires 30.6% stake in RAK Ceramics
BackBack

Samena Capital acquires 30.6% stake in RAK Ceramics

The investment group acquired 250 million shares of the ceramic maker and will be represented on its board

Abu Dhabi-listed RAK Ceramics’ main products are ceramic tiles, sanitaryware and tableware, supplied to more than 160 countries, with annual revenue of around $1 billion (about `6,000 crore).Premium
Abu Dhabi-listed RAK Ceramics’ main products are ceramic tiles, sanitaryware and tableware, supplied to more than 160 countries, with annual revenue of around $1 billion (about `6,000 crore).

Investment firm Samena Capital on Wednesday said it has acquired 250 million shares of RAK Ceramics PSC, representing a 30.6% stake in the world’s biggest maker of ceramic tiles.

Under the terms of the transaction, Samena Capital will be represented on the board of RAK Ceramics, and the two companies will work together to use private equity strategies to unlock new growth opportunities, Samena Capital said in a press release.

Abu Dhabi-listed RAK’s main products are ceramic tiles, sanitaryware and tableware, supplied to more than 160 countries, with annual revenue of around $1 billion (about 6,000 crore).

Sheikh Mohammed Bin Saud Al Qasimi, chairman of RAK Ceramics, said, “Samena Capital brings a value-added network in our core markets as well as international private equity expertise and business and financial capabilities to our company. We believe that this will add immense value to the organization by sharpening our company’s long-term business strategy, driving further growth and improving our overall productivity."

Shirish Saraf, founder and vice-chairman, Samena Capital, said, “RAK Ceramics stands apart as a home-grown brand that has become a dominant global player within its industry and is a true success of private entrepreneurship from the Arab world."

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 16 Jul 2014, 07:06 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie