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FINANCIAL NEWS
UAE’s Samena to buy 30 percent stake in RAK Ceramics
29 May 2014
(MENAFN) Samena Limestone has announced its plan to buy 30 percent stake in Ras Al Khaimah Ceramics from the firm’s founding shareholder, according to the Emirates 24/7.
The purchase was approved by UAE’s Securities and Commodities Authority for Samena, which is a company incorporated under the laws of the Cayman Islands.
One of its founding shareholders had agreed in April to sell 30.6 percent of his stake in the company, or 250 million shares, to Samena.
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