Applied Materials, Inc. (AMAT) announced Monday that the amended Kokusai Electric Corp. share purchase agreement with KKR HKE Investment L.P. was terminated as of March 19, 2021 as Applied did not receive confirmation of timely approval from the regulator in China. Applied is paying KKR a termination fee of $154 million in cash.

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Applied Materials, Inc. (AMAT) announced Monday that the amended Kokusai Electric Corp. share purchase agreement with KKR HKE Investment L.P. was terminated as of March 19, 2021 as Applied did not receive confirmation of timely approval from the regulator in China. Applied is paying KKR a termination fee of $154 million in cash.

RTTNews | Mar 29, 2021 07:46AM EDT

07:45 Monday, March 29, 2021 (RTTNews.com) - Applied Materials, Inc. (AMAT) announced Monday that the amended Kokusai Electric Corp. share purchase agreement with KKR HKE Investment L.P. was terminated as of March 19, 2021 as Applied did not receive confirmation of timely approval from the regulator in China. Applied is paying KKR a termination fee of $154 million in cash.

Based in Tokyo, Kokusai Electric is a provider of high-productivity batch processing systems and services for memory, foundry and logic customers.

In July 2019, Applied Materials agreed to buy Kokusai Electric Corp. from KKR for $2.2 billion.

Read the original article on RTTNews ( https://www.rttnews.com/3180857/applied-materials-announces-termination-of-kokusai-electric-purchase-agreement-quick-facts.aspx)

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