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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Investment

Abu Dhabi government to invest $8.4 bln in AMD

Posted on 07 October 2008

From Bloomberg: Advanced Micro Devices Inc., the computer-chip maker struggling to compete with Intel Corp., plans to spin off its manufacturing plants as part of an $8.4 billion investment from the Abu Dhabi government.

Abu Dhabi will pay AMD $700 million for a stake in a new company that will own two plants in Germany and build another in New York. The new company, which will assume $1.2 billion of AMD’s debt, will receive as much as $6 billion from Abu Dhabi to expand the factories and get $1.4 billion in operating capital. Abu Dhabi will also pay $314 million to double its stake in AMD to 19 percent, AMD said yesterday….. Full Article: Source


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