Abu Dhabi-Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) reached an agreement with Alliance Global Logistics (AGL) for the sale of its 100% stake in RAK Logistics for AED 16 million, according to a bourse filing on Sunday.
The transaction is part of RAK Ceramics’ plan to implement its value creation plan and execute its adopted restructuring strategy to unlock hidden value and focus on core activities.
In mid-2015, the company announced a plan to exit its non-core activities in three years.
