Falcone Investments LLC acquired additional 17.55% stake in R.A.K. Ceramics P.J.S.C. from Samena Limestone Company for approximately AED 380 million.
May 19, 2021
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Falcone Investments LLC acquired additional 17.55% stake in R.A.K. Ceramics P.J.S.C. (ADX:RAKCEC) from Samena Limestone Company for approximately AED 380 million on May 19, 2021. As per terms of transaction, Falcone Investments LLC will hold 20.4% stake in R.A.K. Ceramics P.J.S.C.
Falcone Investments LLC completed the acquisition of additional 17.55% stake in R.A.K. Ceramics P.J.S.C. (ADX:RAKCEC) from Samena Limestone Company on May 19, 2021. As per update, Samena Limestone Company sold 199.7 million shares at AED 1.90 per share.
Ras Al Khaimah Ceramics PSC is a United Arab Emirates-based company, which is engaged in the manufacturing and sale of a variety of ceramic products including tiles, bathroom sets and sanitary wares. The Company operates through four segments: Ceramic products includes manufacture and sale of ceramic wall and floor tiles, gres porcellanato and bathware products; Contracting segment includes construction projects and civil works; Other industrial segment engages in the manufacturing and distribution of power, table ware, paints, plastic, mines and faucets, as well as Other segment includes others Companyâs operations, such as trading, travel, warehousing and trading in catering and turnkey contracting projects.