Hogan Lovells Advises RAK Ceramics on Sale of 30.6% Stake
16 June 2014
DUBAI, 16 June 2014 – Hogan Lovells has advised on the sale of 30.6 percent of the shares in RAK Ceramics, the world’s largest manufacturer of ceramic tiles. The deal closed on 15 June 2014.
The shares were sold by Sheikh Saud bin Saqr Al Qasimi, the ruler of Ras Al Khaimah, to private equity company Samena Capital, who bought 250 million shares equating to 30.6 per cent of RAK Ceramics. The shares are listed on the Abu Dhabi Securities Exchange.
Hogan Lovells' team was led by Imtiaz Shah (Partner, Dubai) with assistance from Blake Harley (Associate, Dubai).
Imtiaz Shah commented:
"This is a significant public transaction in the UAE and we are delighted to have been able to advise on the sale. This deal highlights an increasing appetite for public M&A in the UAE and I expect to see more such deals in coming months."