KKR May Sell Stake in NVC Lighting's China business: Report

KKR & Co Inc KKR is reportedly exploring options, including a sale, of its majority interest in a commercial lighting manufacturer in China.

The company is working with advisers for its 70% stake in NVC Lighting’s China business, reported Bloomberg citing a person familiar with the matter. 

NVC China manufactures branded lighting products and offers lighting solutions to consumers and business customers in China. 

As per the report, the deal may garner around $1 billion in proceeds, with the sale possibly announced later this year.

Last week, KKR disclosed a deal to acquire a majority stake in PangeaCo and the existing fiber optic networks of Telefonica del Peru SAA CPNBF and Entel Perú.

Also Read: KKR Buys Industrial Parks In The Phoenix And Atlanta Markets For $250M

Price Action: KKR shares closed higher by 0.55% at $55.17 on Monday.