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© eskymaks dreamstime.com Components | January 03, 2013

Kemet get go-ahead in NEC Tokin deal

Kemet receives clearance from China Commission on acquisition of 34% interest in NEC Tokin.
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 USD 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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December 05 2018 3:01 pm V11.10.4-2