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Mubadala Takes 8.1% Stake in AMD

Discussion in 'News' started by malware, Nov 16, 2007.

  1. malware New Member

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    AMD announced today that it has received an investment from a wholly-owned subsidiary of Mubadala Development Company, a strategic investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates (UAE). Mubadala invested approximately $622 million, receiving 49 million newly-issued shares at a price per share of $12.70, the closing price of AMD common stock on November 15, 2007. AMD received approximately $608 million, after reimbursing Mubadala for approximately $14.6 million in expenses. AMD will use the net proceeds from the sale of the shares of common stock for general corporate purposes including accelerating its long-term, customer-focused growth strategy by investing in R&D, product innovations and manufacturing excellence.

    “We proudly welcome Mubadala, a world-class investor, to the AMD shareholder family. This investment strengthens AMD’s ability to deliver customer-centric innovation and choice to the marketplace, creating greater value for all of our shareholders,” said AMD Chairman and CEO Hector Ruiz.

    Mubadala CEO and Managing Director Khaldoon Khalifa Al Mubarak said, “AMD is a great fit for Mubadala's investment approach — a spirited competitor and innovator led by a strong and visionary management team. We see significant opportunities for long-term growth and value creation.”

    This is a non-controlling, minority investment. Mubadala will not receive any board representation as part of the deal. This transaction does not present a controlling investment or acquisition subject to review by the Committee on Foreign Investment in the U.S. (CFIUS).

    Merrill Lynch acted as financial advisor to AMD. Lehman Brothers acted as lead financial advisor to Mubadala; Morgan Stanley acted as co-financial advisor.

    Source: AMD
     
  2. sinner33 New Member

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    Good news for me, 20,000 stocks need to be sold soon for my next upgrade. :toast:
     
  3. jocksteeluk

    jocksteeluk New Member

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    considering how many people said they were planning an Intel boycott for opening a factory in china how many of these same people are now planning an AMD/ATI boycott because they are part owned by a middle eastern company? silly when you really think about it isn't it?
     
    Last edited: Nov 16, 2007
  4. Silverel

    Silverel New Member

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    Meh, it's the UAE. They love America. Michael Jackson lives there o.o

    Seriously, it's like the Las Vegas of the middle east. I wouldn't worry too much about em.
     
  5. a111087

    a111087

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    "...by investing in R&D..."
    FINALLY :laugh:
     
  6. Ketxxx

    Ketxxx Heedless Psychic

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    I bet this has come about because AMD need the money.
     
  7. jocksteeluk

    jocksteeluk New Member

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    you just got to love the intel squeeze as a consumer reaping the rewards.
     
  8. UAExDEVIL New Member

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    So i think i will be AMD's Fan

    Check MY Nickname
     
  9. a111087

    a111087

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    :laugh:
     
  10. WarEagleAU

    WarEagleAU Bird of Prey

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    R&D is much needed but so is advertising. That will really help them.
     

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