KEMET Corporation
KEM,
a leading manufacturer of tantalum, ceramic, aluminum, film, paper and
electrolytic capacitors, announced today that its wholly-owned subsidiary,
KEMET Electronics Corporation ("KEC") received regulatory clearance from the
Anti-monopoly Bureau of the Ministry of Commerce of the People's Republic of
China for KEC's proposed acquisition of a 34% interest in NEC Tokin. As
previously announced on March 12, 2012, KEC entered into a definitive
agreement to acquire this interest for $50 million. All required governmental
approvals to complete the transaction have now been obtained. The closing of
the transaction is scheduled to occur on February 1, 2013, and remains subject
to satisfaction or waiver of customary closing conditions.
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