RAK Ceramics Acquires 100% of RAK Porcelain

Abu Dhabi-listed RAK Ceramics, one of the world's largest tile manufacturers, is acquiring RAK Porcelain, according to a declaration. The business has finalised the acquisition of 100% of RAK Porcelain's share capital, converting it into a wholly owned subsidiary, according to a filing with the Abu Dhabi Securities Exchange (ADX). The acquisition is part of a larger investment and expansion strategy for core business divisions.

Source: RAK ceramics