June 22, 2011 / 9:34 AM / 9 years ago

KKR remains fully committed to investment in Yageo Corp - statement

HONG KONG, June 22 (Reuters) - Kohlberg Kravis Roberts & Co remains fully committed to its investment in Taiwan’s Yageo Corp , according to a statement on Wednesday from Orion Investment Co Ltd, a company jointly held by KKR and Yageo founder and Chief Executive Pierre T.M. Chen.

The statement came after Taiwan’s regulators rejected the planned $1.6 billion buyout of component maker Yageo.

“KKR remains fully committed to its investment in Yageo and its partnership with the company’s leadership and management. Yageo has established a strong position in its industry, and KKR has full confidence in the ability of Yageo’s management to continue to grow the company,” said KKR member Julian Wolhardt.

The statement said Yageo had expanded capacity, created jobs, gained market share and experienced revenue growth since KKR’s initial investment in the company in 2007. (Reporting by Stephen Aldred; Editing by Chris Lewis)

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