Focus Taiwan
Date: 06/09/2020
By: Wu Po-wei and Frances Huang

Taipei, June 9 (CNA) The Investment Commission said Tuesday it has approved an application from Taiwan's largest passive electronics component maker Yageo Corp. to acquire U.S. rival Kemet Corp. for US$1.64 billion.

In response, Yageo said the commission's approval is expected to accelerate the completion of the acquisition, which was announced in November 2019, and anticipated it will include Kemet's sales and earnings on its books in July at the earliest.

Earlier this year, Yageo, which produces components such as chip resistors, inductors and multi-layer ceramic capacitors (MLCC), said the deal was scheduled to be completed in the third quarter after the company secured necessary approvals from antitrust authorities in Austria, Germany, Taiwan, the United States and China.

In a statement, the commission under the Ministry of Economic Affairs said Kemet specializes in passive components used in a wide range of industries such as automotive electronics, industrial applications, aviation, medical care, smartphones, cloud-based Internet communications, 5G gadgets and wireless communications.    [FULL  STORY]