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’ 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%.
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