KKR将秉其资源及运营专长助力腾博会官网照明中国照明营业在海内市场坚持一连增添

通过与 KKR 建设的合资企业，腾博会官网照明将拥有腾博会官网照明中国照明营业 30% 的股权

腾博会官网照明董事会宣布在交割完成时将向股东派发不少于每股 0.9 港元的特殊股息

 

 

中国香港 – 2019 年 8 月 11 日 – 国际投资机构 KKR 与腾博会官网照明控股有限公司（以下简称“腾博会官网照明”或 “公司”）（股票代码：2222）今天宣布签署股份购置协议。凭证该协议，KKR 将与腾博会官网照明告竣战略相助并以约 7.94 亿美元股权对价收购腾博会官网照明中国照明营业（以下简称“腾博会官网中国”）大都股权。交割完成后，KKR 将持有腾博会官网中国 70%的股权，腾博会官网照明将持有剩余 30%股权，并获得现金对价。

 

 

腾博会官网中国是中国照明行业的龙头企业之一，通过其普遍中国各地的强盛分销网络，制造及销售腾博会官网品牌照明产品，并向消耗者和商业客户提供照明解决计划。

 

 

KKR全球合资人兼大中华区总裁杨文钧体现：“中国照明市场在已往20年间履历了迅猛增添，并随着手艺的前进及新一代产品的推出而一直生长。腾博会官网中国是照明行业的向导者，拥有普遍的经销网络、着名的品牌影响力和强盛的产品设计能力。我们十分期待与腾博会官网中国卓越的治理团队联手协作，支持他们的恒久生长妄想，为中国照明工业的整体一连生长做出孝顺，同时KKR也将借此进一步深耕于中国市场。”

 

 腾博会官网照明董事长王冬雷先生体现：“腾博会官网照明董事会在财务照料及执法照料的协助下主导了本次生意的完整的竞标流程。我们很兴奋这一健全的竞标流程为我们的股东带来了知足的效果——腾博会官网照明的股东在继续持有腾博会官网中国少数股份、腾博会官网国际营业所有股份及腾博会官网中国非照明营业所有股份的同时，还将获得可观的现金对价。我们相信KKR是腾博会官网照明理想的相助同伴，双方对腾博会官网中国未来生长机缘看法高度一致，KKR具有的资源及运营专长也将助力腾博会官网中国营业的恒久生长。”

 

 

腾博会官网中国将继续深耕中国市场，致力于知足中国消耗者及企业客户对高品质照明产品日益增添的需求。KKR的相关资源和运营专长将支持腾博会官网中国推进其恒久增添战略。中国在消耗、工业及商业领域的一连工业升级，以及在情形；ず徒谀芊矫娴南喙匦卸步诓┗峁偻泄恼铰陨ご蠢，并将支持中国的照明行业恒久康健生长。腾博会官网中国将一连投资中国营业，以手艺及商业模式立异者的身份继续坚持腾博会官网照明品牌的行业领先职位。

 

 

 

生意细节

 

 

在本次生意中，KKR和腾博会官网照明将建设合资企业，KKR将持有腾博会官网中国70%股权，腾博会官网照明将持有剩余的30%股权。腾博会官网照明将向KKR和腾博会官网照明配合拥有的合资企业转让腾博会官网中国100%股权。腾博会官网照明还将从生意中获得现金对价。最终的支付结算取决于若干调解和交割条件。

 

 

在获得批准且交割完成的条件下，腾博会官网照明董事会将宣布，向腾博会官网照明的股东派发不低于每股0.9港元的特殊股息。腾博会官网照明将召开特殊股东大会，供股东批准此项生意和特殊股息。

 

腾博会官网照明的中国非照明营业、中国原始设计制造商（ODM）营业和国际营业不包括在此项生意中，将继续由腾博会官网照明拥有。

 

在切合交割老例条件，并获得羁系机构和股东批准的条件下，该生意预计将于2019年第四序度交割。

 

宝维斯状师事务所、方达状师事务所及美国凯易状师事务所担当此次生意中KKR的执法照料。富而德状师事务所担当腾博会官网照明的执法照料，德勤企业财务照料有限公司担当腾博会官网照明的财务照料。

 

KKR将通过其旗舰亚洲三期基金完成此次投资。中国是KKR亚太区域投资营业的焦点，自2007年起，KKR已在中国投资凌驾45亿美元，致力于支持中国各行业的本土优异企业生长成为行业向导者。KKR在北京、香港和上海设有办公室，为中国企业提供种种本土化的深度支持。

 

 

关于KKR

 

KKR是一家全球领先的投资机构，治理多种另类资产种别，包括私募股权投资、能源、基础设施、房地产和信贷，以及与战略相助同伴治理对冲基金。KKR旨在通过恒久且严谨的投资方法，依附天下一流人才，与其被投企业配合创立价值，释放经济增添动力，从而为基金投资者获取可观的投资回报。KKR运用自有以及其为基金投资者治理的资金举行投资，并通过资源市场营业提供融资解决计划与投资时机。对KKR投资的形貌可能包括KKR所提倡的基金的营业活动。欲相识KKR & Co. L.P.（纽交所股份代号：KKR）的更多信息，请会见KKR官网www.kkr.com 及Twitter @KKR_Co。

 

 

关于腾博会官网照明

 

腾博会官网照明是中国领先的照明解决计划提供商，致力于设计、开发、生产、营销并销售多种照明产品，并重点关注节能照明产品和康健照明产品。现在，腾博会官网照明主要从事照明产品和相关非照明产品的设计、开发、生产、营销和销售，在中国市场和国际市场均有营业笼罩。公司营业按地理位置划分，包括中国的照明营业、中国的非照明营业、中国的原始设计制造商（ODM）营业和国际营业。交割完成后，腾博会官网照明将主要从事中国的非照明营业、中国的原始设计制造商（ODM）营业和国际市场的照明产品设计、开发、生产、营销和销售相关营业。

 

 

披露及附加信息

 

 

本新闻稿载有若干前瞻性陈述及资料，该等陈述及资料乃基于相关人士的信心、假设及现时所掌握的资料而作出。该等陈述反应出该等人士现在对未来事务及营运的看法，其中若干看法可能不会实现或可能会改变。该等陈述会受若干危害、不确定因素及假设的影响。左右应特殊注重，依赖任何前瞻性陈述涉及已知及未知危害及不确定因素。该等危害及不确定因素可能会影响前瞻性陈述的准确性。

 

 

投资者垂询：

 

腾博会官网照明投资者关系部分

 

+852-3970 2238

 

ir@nvc-lighting.com; nvclighting@wsfg.hk

 

 

KKR媒体垂询：

 

Anita Davis, +852 3602 7335

Anita.Davis@KKR.com

 

或

 

FTI Consulting

 

王迪, +86 21 2315 1138

 

kkrchina@fticonsulting.com

 

 

腾博会官网照明媒体垂询：

 

杜莹华

 

+86 133 1608 1476

 

Yinghua.du@nvc-lighting.com

 

或

 

皓天财经集团

 

黄善谦 +852 5318 1926

 

alicewong@wsfg.hk

 

 

 

 

KKR to Form Strategic Partnership with NVC Lighting and Acquire Majority Interest in NVC Lighting’s China Lighting Business

Contribution of KKR’s Resources and Operational Expertise Positions China Lighting Business for Continued Growth in the Domestic Chinese Market

NVC Lighting Will Own 30% of NVC Lighting’s China Lighting Business through Joint Venture with KKR

NVC Lighting Board Declares a Special Dividend not less than HK$0.9 per share to be Paid Upon Closing of the Transaction

 

 

HONG KONG, China – August 11, 2019 – Global investment firm KKR and NVC Lighting Holding Limited (“NVC Lighting” or the “Company”) (Stock Code:2222) today announced the signing of a Share Purchase Agreement under which KKR has agreed to set up a strategic partnership with NVC Lighting and acquire a majority interest in NVC Lighting’s China Lighting Business (“NVC China”) for a total equity value of approximately US$794mm.  Following the completion of the transaction, KKR will own 70% of NVC China and NVC Lighting will hold the remaining 30% and receive a cash consideration.  

 

 

NVC China is a leading lighting company in China, manufacturing, selling and distributing branded lighting products and providing lighting solutions to consumers and business clients through a robust distribution network across China.

 

 

 

Paul Yang, Member and Head of KKR Greater China, said, “China’s lighting market has experienced tremendous momentum over the past 20 years and continues to develop as technology advances and next generation products come online.  NVC China is an industry leader with an extensive distribution network, well-known brand name and strong product design capabilities.  We look forward to working together with NVC China’s talented management team to support their long-term growth plan, as well as contributing to the overall development of China’s lighting industry and deepening KKR’s commitment to the market.”

 

 

Wang Donglei, Chairman of the Board of NVC Lighting, said, “Our Board conducted a comprehensive sales process, assisted by financial and legal advisors.  We are pleased that this robust process has produced an outstanding outcome for our shareholders, who will maintain minority ownership in NVC China as well as full ownership of NVC Lighting’s international business and its non-lighting business in China, and receive a compelling cash consideration for their shares. We believe we have found a partner in KKR who shares our conviction in the opportunity for NVC China and will contribute resources and operational expertise to support the long-term development of the business.”

 

NVC China will continue to commit to the China market and focus on addressing the increasing demand of Chinese consumers and business clients for high-quality lighting products.  The support of KKR’s resources and operational expertise will enable the business to undertake a long-term growth strategy that is also supported by China’s ongoing consumption, industrial and commercial upgrades, as well as the promotion of environmental protection and energy conservation. These trends underpin healthy long-term sector growth for the lighting industry in China, and NVC China will invest in its business to ensure the NVC brand stays ahead as a technology and business model innovator.    

 

 

Transaction Details

 

 

In connection with the transaction, KKR and NVC Lighting are to form a Joint Venture whereby KKR will own 70% of NVC China and NVC Lighting will own the remaining 30%.  NVC Lighting will transfer 100% of NVC China to the Joint Venture co-owned by KKR and NVC Lighting.  NVC Lighting will also receive a cash consideration from the transaction.  The final settlement of payment is subject to certain adjustments and closing conditions. 

 

 

A Special Dividend not less than HK$0.9 per share will be declared by the Board of NVC Lighting and paid to the Company’s registered shareholders, subject to the approval and closing of the transaction.  NVC Lighting will convene an EGM for shareholders to approve the transaction and Special Dividend.

 

NVC Lighting’s non-lighting business in China, China ODM business and international business are not included in the transaction and will remain with NVC Lighting.

 

The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions and regulatory and shareholder approvals.

 

Paul, Weiss, Rifkind, Wharton & Garrison LLP, Fangda Partners and Kirkland & Ellis acted as legal advisors to KKR. Freshfields Bruckhaus Deringer acted as legal advisor and Deloitte & Touche Corporate Finance Limited acted as financial advisor to NVC Lighting.

 

KKR is making this investment from its flagship Asian Fund III. China is a core focus within KKR’s Asia Pacific strategy, and the Firm has deployed more than US$4.5 billion since 2007 to build domestic champions into industry leaders. KKR delivers deep, local expertise to Chinese companies across various sectors through its offices in Beijing, Hong Kong, and Shanghai.

 

 

About KKR

 

 

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.

 

 

About NVC Lighting

 

NVC Lighting is a leading lighting solutions company in the PRC. It designs, develops, produces, markets and sells a variety of lighting products, with a strong focus on energy-saving and health-promoting lighting products. Currently NVC Lighting is principally engaged in the design, development, production, marketing and sales of lighting products and certain non-lighting products in both the PRC market and international market. The businesses, by geographical locations, include its lighting business in China, non-lighting business in China, China ODM business and international business. After the transaction, NVC Lighting will be primarily engaged in its non-lighting business in China, China ODM business and international business, which includes the design, development, production, marketing and sales of lighting products.

 

 

Disclosures and Additional Information

 

 

This press release contains certain forward-looking statements and information that are based on the beliefs of the relevant persons as well as assumptions made by and information currently available to such persons. Such statements reflect the current views of such persons with respect to future events and operations, some of which may not materialize or may change. These statements are subject to certain risks, uncertainties and assumptions. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. The risks and uncertainties could affect the accuracy of forward-looking statements.

 

 

Investors:

 

 

NVC Lighting IR Team

 

+852-3970 2238

 

ir@nvc-lighting.com; nvclighting@wsfg.hk

 

 

Media:

 

For KKR Asia Pacific:

Anita Davis, +852 3602 7335

Anita.Davis@KKR.com

 

Or

 

FTI Consulting (for KKR China)

Dee Wang, +86 21 2315 1138

 

kkrchina@fticonsulting.com

 

 

 

For NVC Lighting:

 

Du Yinghua, +86 133 1608 1476

 

Yinghua.du@nvc-lighting.com

 

Or

 

Wonderfulsky Financial Group (for NVC Hong Kong)

 

Alice Wong, +852 5318 1926

 

alicewong@wsfg.hk