Abu Dhabi take a slice of AMD
Reuters has received confirmation, via text message no less, from Waleed al-Mokarrab al-Muhairi, Mubdala's chief operating officer, stating "We have already bought the stake as of today".
Though a fee hasn't been disclosed, Financial Times claim "the acquisition will cost Mubadala Development about $700m, according to people close to the situation".
In a recent regulatory filing, AMD stated that it was considering the sale of up to $700 million in common stock in order to reduce its debt which is believed to be in the region of $5.3 billion. Following its $5.4 billion acquisition of ATI, this new deal could provide a welcome boost to for the world's second largest computer processor manufacturer.
Source: Reuters
