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KKR acquires majority stake in NVC China for US$794M

Private equity firm KKR & Co. Inc. completed the purchase of a 70% stake in NVC Lighting Holding Ltd.'s China lighting business, or NVC China, for about US$794 million.

The acquisition was made through its flagship KKR Asian Fund III.

An earlier report stated that the business will be wholly owned by a joint venture of KKR and NVC Lighting, with NVC Lighting retaining the remaining 30% holding in the company.