Mubahser: Global investment firm KKR has completed the acquisition of a majority stake in NVC International Holdings Limited’s lighting business in China.

Accordingly, KKR now holds a 70% stake in NVC China, while NVC International owns the remaining 30%, according to a statement on Thursday.

“KKR will support the NVC China management team and look to accelerate the Company’s expansion plans and identify new opportunities for growth across cutting-edge design, digital optimization, and environmental sustainability,” member and head of KKR Greater China, Paul Yang, said.

KKR has invested above $4.6 billion since 2007 to boost the development of top performing companies.

The investment, made from KKR’s Asian Fund III, will position NVC China “for its next phase of growth…[allowing] NVC International and its shareholders to continue to benefit from the Company’s future successes,” chairman of NVC International, Wang Donglei, remarked.