Freshfields advises NVC Lighting on disposal of majority stake in China lighting businessFreshfields Bruckhaus Deringer (‘Freshfields’) has advised NVC Lighting Holding Limited (‘NVC Lighting’) on the disposal of 70 per cent of its interest in its China lighting business to Brilliant Lights Investment Pte. Ltd., a special purpose vehicle controlled by KKR Asian Fund III L.P. (‘KKR’). The deal value was RMB5.56bn (approximately US$794m). After closing, NVC Lighting and KKR will respectively indirectly hold 30 per cent and 70 per cent of the target companies’ total equity.
Signing took place on 10 August 2019 and closing is expected no later than 31 December 2019.
The Freshfields team advising on the deal was led by partners Philip Li, Teresa Ko, Calvin Lai, Jason Xu and Yuxin Shen. IP/IT advice was provided by partner Richard Bird. Dispute resolution advice was provided by partner John Choong. Finance advice was provided by partner Daniel French. Partner Peter Clements provided tax advice and partner Hazel Yin advised on the antitrust aspects of the deal.
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