Joyou AG Announces Details on Grohe Asia AG's Acquisition

Joyou AG announced that its major shareholders, Mr. CAI, Jianshe and Mr. CAI, Jilin, both members of the Executive Board of Joyou AG, have as envisaged in their declaration of intent dated February 14, 2011 signed a long-term partnership agreement with Grohe Holding GmbH according to which Mr. CAI, Jianshe and Mr. CAI, Jilin contribute 28.6% of their respective shares in Joyou AG into Grohe Asia AG against an issuance of new shares representing 49.99% of Grohe Asia AG. After execution of the shareholder agreement, Grohe Asia AG will hold 57.2% of Joyou AG.