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ATIC to Increase Stake in AMD

Middle East : 09 March 2010

The Chief Executive of Abu Dhabi government controlled Advanced Technology Investment Company; Ibrahim Ajami has announced plans to increase the company’s stake in Global Foundries from 68 per cent to 70 per cent to take over the complete AMD stake in the chip manufacturer. Ajami told that ATIC intends to purchase the remaining stake through a capital call process during the next 3 to 4 years. The plan is to ensure that Global Foundries is adequately capitalized and AMD is an attractive proposition for acquisition.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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