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8 September 2009

Abu Dhabi firm to buy Singapore chipmaker

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Abu Dhabi's government-owned Advanced Technology Investment Co agreed to buy Singapore's Chartered Semiconductor Manufacturing Ltd. for 2.5 billion Singapore dollars ($1.8 billion) in cash, reported the Associated Press, quoting the company.

Chartered, which makes chips for Microsoft Corp.'s Xbox 360 game console, will be combined with Globalfoundries, which ATIC started last year with Advanced Micro Devices Inc.

ATIC will pay Singapore dollar $2.68 a share, Chartered said in a statement. Its shares closed at S$2.66 on Friday. The transaction will close during the fourth quarter, the company said.

Temasek Holdings, Singapore's state investment company, owns 62 percent of Chartered's shares. 


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