KEMET Announces Completion of SAMR and CFIUS Review

Update April 29, 2020: KEMET Corporation announced that, in connection with the pending acquisition of KEMET by Yageo Corporation, the parties received a notice from the Anti-Monopoly Bureau of the State Administration for Market Regulation in China (SAMR) of its unconditional approval of the pending acquisition of KEMET by Yageo under the Anti-Monopoly Law of China.

This update is following KEMET Corporation announcement on 27th April on Foreign Investment in the United States (CFIUS) that notified the parties that it completed the review of the pending acquisition of KEMET by Yageo and determined that there are no unresolved national security concerns with respect to the transaction.

The remaining required regulatory approval to consummate the transaction is approval from the Investment Commission, Ministry of Economic Affairs in Taiwan. The parties’ submission was recently filed, and reviews typically take up to approximately 90 days to complete.