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Components | July 12, 2012

Kemet / NEC Tokin deal gets clearance

Kemet receives clearance from European Commission on acquisition of 34% interest in NEC Tokin.
Kemet Corporation received regulatory clearance from the European Commission under the European Union (EU) Merger Regulation for its proposed acquisition of a 34% interest in NEC Tokin by Kemet Electronics Corporation, its wholly owned subsidiary.

As previously announced, Kemet entered into a definitive agreement to acquire this interest for USD 50 million. The transaction remains subject to satisfaction of customary closing conditions, including receipt of required regulatory approval in China. While a definitive closing date cannot yet be determined, Kemet continues to expect that the transaction will close during its second fiscal quarter, ending September 30, 2012, a press release states.

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