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Allen & Overy advises investment group Samena Capital on acquisition of stake in RAK Ceramics

: Monday, July 21 - 2014 @ 11:50

Allen & Overy announced that it has advised Samena Capital on the acquisition of 30.58% of the share capital of RAK Ceramics PJSC (RAK Ceramics) from His Highness Sheikh Saud Bin Saqr Al Qassimi, Ruler of the Emirate of Ras Al Khaimah, and one of the founding shareholders of RAK Ceramics.

Samena Capital is a principal investment group focusing on investments across multiple asset classes in the Subcontinent, Asia, Middle East and North Africa, collectively known as the SAMENA region. Samena Capital will be represented on the board of RAK Ceramics.

RAK Ceramics exports to over 150 countries and is one of the world’s largest manufacturers of ceramic products. RAK Ceramics is listed on the Abu Dhabi Securities Exchange (ADX) and is currently valued at approximately $800m.

The UAE-based team was led by Dubai-based partners Simon Roderick and Andrew Schoorlemmer, with assistance from Zeid Qursha, Mahmoud Kherallah, Charles Buckworth and Omran Al Rasheed. Abu Dhabi-based partner Ibrahim Mubaydeen provided specialist advice on UAE capital markets and regulatory matters. The Allen & Overy team worked closely with Samena Capital’s in-house legal team, which was led by Markus A. Federle.

The acquisition was conditional on approval by the UAE’s Securities and Commodities Authority and was implemented through an on-market ‘block-trade’ on the Abu Dhabi Securities Exchange.

For further information, please contact:
Jane King
Email: [email protected]
Tel: +97144267138.

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Monday, July 21- 2014 @ 11:50 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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