ATIC buying more of global foundries

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Abu Dhabi conglomerate ATIC (the Advanced Technology Investment Company) has announced plans to take its stake in Globalfoundries, a microchip developer, from 87% to over 90%.  Globalfoundries already had plans to open a new plant near the Abu Dhabi airport, estimated to cost between $6 and $8 billion.  Construction is expected to begin later this year.  ATIC’s initial investment in Globalfoundries was around $2.1 billion for a 65% stake, which it then increased to the current 87%.  The amount of the additional stake is unclear.

 

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Abu Dhabi conglomerate ATIC (the Advanced Technology Investment Company) has announced plans to take its stake in Globalfoundries, a microchip developer, from 87% to over 90%.  Globalfoundries already had plans to open a new plant near the Abu Dhabi airport, estimated to cost between $6 and $8 billion.  Construction is expected to begin later this year.  ATIC’s initial investment in Globalfoundries was around $2.1 billion for a 65% stake, which it then increased to the current 87%.  The amount of the additional stake is unclear.  

Abu Dhabi conglomerate ATIC (the Advanced Technology Investment Company) has announced plans to take its stake in Globalfoundries, a microchip developer, from 87% to over 90%.  Globalfoundries already had plans to open a new plant near the Abu Dhabi airport, estimated to cost between $6 and $8 billion.  Construction is expected to begin later this year.  ATIC’s initial investment in Globalfoundries was around $2.1 billion for a 65% stake, which it then increased to the current 87%.  The amount of the additional stake is unclear.

 

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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