KEMET Corp. (KEM) Gets EC Clearance for Acquisition NEC Tokin Stake

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KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, announced today that it 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 on March 12, 2012, KEMET entered into a definitive agreement to acquire this interest for $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.

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