KUALA LUMPUR: Signature International Bhd is acquiring a 23.67% stake, or 120 million shares, in Fiamma Holdings Bhd for RM180mil.

       The kitchen cabinet manufacturer said the proposed acquisition is for the group to tap into Fiamma’s extensive distribution and servicing network for home and kitchen electrical appliances.

       “The proposal is in line with the group’s objective of acquiring strategic stakes in profitable companies within the industry supply chain for future growth,” said managing director Chiau Haw Choon in a statement yesterday. — Bernama