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Business Update

| Updated on December 23, 2011 Published on December 23, 2011

Kreon Finnancial Services Ltd has informed BSE that pursuant to the board of directors approving the strategic investment proposal at its board meeting held on November 28, 2011. The Company has signed Share Purchase Agreement with promoters of M/s. Aran Kitchen World India Pvt. Ltd. (a Joint Venture Company between M/s. Aran World SRL (Italy) and Bohra Sanitary Pvt. Ltd.) to acquire majority stake in to the Company there by making it a subsidiary of the Company.

M/s. Aran Kitchen World India Pvt. Ltd. is a leading player in modular kitchen segment having its presence in PAN India basis with presently operating with 9 stores.

The strategic investment shall provide Company grow inorganically and have its presence in one of the most growing business segment of retail industry.

Source : BSE - >www.bseindia.com

Published on December 23, 2011
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