KEMET Gets Clearance from China on Proposed Purchase of a 34% Interest in NEC Tokin

KEMET Corporation (NYSE:KEM) a company that manufacturers tantalum announced today that its subsidiary, KEMET Electronics Corporation, has obtained clearance from China’s Anti-Monopoly Bureau of the Ministry of Commerce for its proposed purchase of a 34% interest in NEC Tokin.

As quoted in the press release:

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.

Click here to read the full KEMET Corporation (NYSE:KEM) press release.