The financial regulator of Taiwan has rejected the privatization of electronics components company Yageo due to the dependence on bank loans for the takeover, Financial Times reports. Kohlberg Kravis Roberts and the founder of Yageo Pierre Chen had offered to buy the company for $1.6 billion.
UBS is advising the buyers. UBS and Nomura Holdings offered about $930 million of debt to finance the deal, adds The Wall Street Journal. KKR and Chen will continue investing in Yageo despite the government’s rejection.
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