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KKR To Buy Majority Stake In NVC China Lighting Business For About $794 Mln

Global investment firm KKR agreed to form a strategic partnership with NVC Lighting and acquire a majority interest in NVC Lighting's China Lighting Business for a total equity value of approximately US$794 million.

KKR will own 70% of NVC's China Lighting Business and NVC Lighting will hold the remaining 30% and receive a cash consideration.

KKR expects to close the deal in the fourth quarter of 2019.

NVC Lighting declared a special dividend not less than HK$0.9 per share to be paid upon closing of the transaction.

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