Kreon Financial keen to acquire stake in Aran KitchenWorld

29 December 2011: Kreon Financial Services, a Non Banking Finance Company (NBFC) based in Chennai, is keen to acquire around 51 per cent stake in Indo-Italian JV firm Aran KitchenWorld India.

The company has signed a share purchase agreement with the promoters of Aran Kitchen World India, a company in the modular kitchen segment. Kreon will be acquiring around 51 per cent stake in the company through the agreement, said a company official from Kreonn Financial. Aran KitchenWorld is a JV between Italian modular kitchen firm Aran World and Chennai-based Bohra Kitchens of Bohra Group, with 49 per cent and 51 per cent stake holdings respectively.

Source: Business standard