Thursday, October, 22, 2020 01:08:46
NVC International Holdings Limited and KKR recently announced that the latter has completed the acquisition of the majority stake in China lighting business of NVC Lighting. KKR will hold 70% and NVC International will own rest 30% in NVC China after closure of transaction. The move aims at expansion of NVC China’s ability to answer the demand of Chinese consumers and businesses for superior lighting products and solutions.

NVC China will adopt advanced technologies and practices with the help of vast operation expertise of KKR. The company will be able to establish itself as a business leader in energy conservation field.

Paul Yang, Member and Head, KKR Greater China, apparently stated that NVC China is a true leader in the expanding lighting market of China with topnotch operations and a recognized brand.

NVC China will remain persistent towards its commitment to serve China market and aims at answering the rising demand of Chinese customers and corporate clients for superior lighting products. The company will be able to acquire a long-term growth strategy with the help of KKR’s resources and operational expertise. The growth strategy will be reinforced by industrial & commercial upgrades, promotion of environmental protection, health & energy conservation, and ongoing consumption in China. Strong long-term growth of lightening sector in China will be reinforced by these trends. NVC China will outlay massive amounts in its business to maintain leadership of NVC brand as a business model and technology innovator.

KKR has leveraged its flagship Asian Fund III to invest in NVC China. The company has been keenly focusing on China under its Asia Pacific strategy and will keep going further. Since 2007, KKR has invested over $4.6 billion to develop domestic leaders into industry majors. The company provides deep, local knowhow to Chinese firms across many sectors through its offices in Hong Kong, Shanghai, and Beijing.

 

Source links:

https://markets.businessinsider.com/news/stocks/kkr-completes-purchase-of-a-majority-interest-in-nvc-china-1028757610