Global buyout firm KKR & Co is considering options for its majority stake in commercial lighting manufacturer NVC Lighting’s China-based business, including a sale of the 70% holding, which could fetch about $1bn, according to a report by Bloomberg.
Global buyout firm KKR & Co is considering options for its majority stake in commercial lighting manufacturer NVC Lighting’s China-based business, including a sale of the 70% holding, which could fetch about $1bn, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that the global buyout firm is working with advisers on a strategic review of its holding with a formal sales process potentially kicking off later this year, although a final decision has yet to be made and KKR may opt to hold on to the asset.
KKR acquired its stake in NVC China, which manufactures branded lighting products in China and provides lighting solutions to consumers and business clients across the country for $794 million in 2019. Hong Kong-listed NVC International Holdings Ltd holds the remaining 30%.
