Ras Al Kahaimah in talks to sell 25% stake in RAK Ceramics: report

March 6, 2014 2:05 pm

The government Ras Al Khaimah is exploring a sale of its shares in Ras Al Khaimah Ceramics, Reuters has reported, citing a source familiar with the matter. “There are some interested regional and international buyers but they haven’t got the right price,” the source said. “The RAK government wants to focus more on real estate development and dilute non-core assets.” The source declined to give a value for the possible sale but said the government wanted to sell a minimum of 25% of the company and conceivably all of its stake.