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Is Huizhou NVC sold to state-owned enterprises?
No, according to Sina's financial information query, as of September 15, 2023, NVC Lighting announced that the company and its wholly-owned subsidiary Yaoneng Holdings signed an equity acquisition agreement with the international investment institution KKR on August 10, 2023, and NVC Lighting plans to sell 70% of the equity of NVC Lighting China Lighting business to KKR. After the delivery, NVC Lighting and KKR hold 30% and 70% shares of the target company respectively. KKR Group, translated as "Kohlberg kravis Roberts" in Chinese, is a veteran leveraged buyout king, one of the most successful industrial investment institutions in financial history, and one of the oldest and most experienced private equity investment institutions in the world. KKR Group is not a state-owned enterprise, so Huizhou NVC Lighting has not been sold to state-owned enterprises.
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