Middle-Eastern Firm Takes 8.1% Stake in AMD

Regeneration · Posted by Regeneration on November 17th, 2007, 02:38 PM

Mubadala Development Company, a United Arab Emirates (UAE) government-funded investment firm based in Abu Dhabi, has acquired an 8.1 percent stake in AMD for $622 million USD. The company received 49 million shares at a price of $12.70. Despite the buy-in, Mubadala will not receive any board representation as a result of the deal. AMD will receive a total of $608 million USD after repaying Mubadala $14.6 million USD in expenses. AMD plans to use the cash to invest in research, product innovations and manufacturing excellence.

Read More

**Posted by Unixlord on November 17th, 2007, 02:46 PM**

Haha Advanced Mideast Devices ftw.