The Singaporean high court has given final approval for Chartered Semiconductor Manufacturing to be purchased by Advanced Technology Investment Company (ATIC), an investment firm fully owned by the Abu Dhabi Government.
ATIC paid S$5.6 billion (Dh14.65bn) for Chartered, which manufactures customised chips for Microsoft, Broadcom and Qualcomm. The acquisition includes US$2.2bn (Dh8.07bn) in debt and convertible bonds, while S$2.5bn will go towards Chartered’s common shareholders. “The acquisition process is now completed,” said Jim Norling, the chairman of Chartered Semiconductor.
ATIC will combine the manufacturing divisions of Chartered within its Globalfoundries business, a joint venture with the US microchip maker Advanced Micro Devices (AMD). ATIC controls a majority stake in the joint venture.
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