Allen & Overy advises Samena Capita on the acquisition of share capital of RAK Ceramics
Allen & Overy has advised Samena Capital on the acquisition of 30.58 per cent of the share capital of RAK Ceramics PJSC 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, which exports to more than 150 countries, is listed on the Abu Dhabi Securities Exchange (ADX) and is currently valued at approximately $800m (£470m).
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.
News from The Lawyer
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.