KKR Acquires Majority Stake in NVC China, Raises USD1 Billion for Impact
Posted On: 08 Aug 2019 | Source(s): KKR, Bloomberg | Author(s): Emily Chasan
Global investment manager KKR has agreed to acquire a 70 percent stake in NVC China, the China business of Hong Kong-listed multinational lighting products manufacturer NVC Lighting, for USD794 million. The transaction, which is subject to shareholder and regulatory approval and closing conditions, will be completed through KKR’s Asian Fund III. Separately, KKR has reportedly raised more than USD1 billion for its Global Impact Fund. The fund, which is still accepting commitments, will target companies that address social and environmental problems.