KKR explores options, including sale, for NVC China -Bloomberg News

NVC International Holdings

11/07/2023 03:39

July 10 (Reuters) - U.S. private equity firm KKR & Co
 KKR.N  is exploring options, including a sale, for its majority
stake in commercial lighting manufacturer NVC International
Holdings'  2222.HK  China business, Bloomberg News reported on
Monday.
    A deal may fetch about $1 billion and a sale process may be
formally launched later this year, though no final decision has
been made, the report said, citing people familiar with the
matter.
    KKR acquired a majority stake in NVC China for a total
equity value of about $794 million in 2019. NVC International
owns the remaining roughly 30%.
    KKR and NVC did not immediately respond to a Reuters'
request for comment.

 (Reporting by Yana Gaur in Bengaluru; Editing by Savio D'Souza)
 ((Yana.Gaur@thomsonreuters.com;))