RAK Ceramics adds in divestment
18/01/2015 5:59 pm EDT

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As oil prices regained territory at the end of last week to reach over $48 per barrel (US crude), up by almost five per cent, the Abu Dhabi equity market index closed 1.65 per cent higher at 4,555.27 points on Sunday, January 18.

RAK Ceramics gained 0.33 per cent to hit AED3.01. Earlier in the day, the biggest producer of ceramic tiles said it has signed an initial memorandum of understanding with Laticrete International in the US to sell its shares in RAK Laticrete, a joint venture manufacturing and distributing adhesives, grouts and waterproofing products. The sale of the shares shall be completed by March 25, 2015.

Gérard Al-Fil

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