KEMET Announces Completion of CFIUS Review
FORT LAUDERDALE, Fla., April 24, 2020 (GLOBE NEWSWIRE) -- KEMET Corporation ("KEMET") (NYSE: KEM) today announced that, in connection with the pending acquisition of KEMET by Yageo Corporation ("Yageo") (TAIEX: 2327), on April 23, 2020, the Committee on Foreign Investment in the United States (CFIUS) notified the parties that it completed review of the pending acquisition of KEMET by Yageo and determined that there are no unresolved national security concerns with respect to the transaction.
KEMET today also announced that, on April 15, 2020, the Taiwan Fair Trade Commission (TFTC) announced its approval of the acquisition of KEMET by Yageo. The parties continue to expect the transaction to close in the second half of 2020 with the goal of closing by the end of the third quarter of 2020, subject to additional customary closing conditions and the receipt of the remaining required regulatory approvals, which include approvals under the Anti-Monopoly Law of China and approval from the Investment Commission, Ministry of Economic Affairs in Taiwan.
About KEMET
KEMET's common stock is listed on the NYSE under the ticker symbol "KEM" (NYSE: KEM). At the Investor Relations section of our web site at www.KEMET.com/IR, users may subscribe to KEMET news releases and find additional information about our Company. KEMET offers our customers the broadest selection of capacitor technologies in the industry, along with an expanding range of sensors, actuators and electromagnetic compatibility solutions. KEMET operates manufacturing facilities, sales and distribution centers around the world. Additional information about KEMET can be found at www.KEMET.com.
Contact:Gregory C. Thompson
Executive Vice President and
Chief Financial Officer
GregThompson@KEMET.com
