Mubadala invested approximately $622m, 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 $608m, after reimbursing Mubadala for approximately $14.6m 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.
Merrill Lynch acted as financial advisor to AMD. Lehman Brothers acted as lead financial advisor to Mubadala; Morgan Stanley acted as co-financial advisor.
AMD announces $622m investment by Mubadala Development Company
AMD announced 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).
- United Arab Emirates: Saturday, November 17 - 2007 at 08:20
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About AMDAMD is a leading global provider of innovative microprocessor solutions for computing, communications and consumer electronics markets. Founded in 1969, AMD is dedicated to delivering superior computing solutions based on customer needs that empower users worldwide.
About Mubadala
Mubadala is an investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates. Wholly-owned by the Abu Dhabi Government, Mubadala's mission is to create and maximize long-term returns as an engaged investor in high-performing businesses and promising new ventures.
The company has a growing and multifaceted international portfolio, with significant interests in sectors such as energy, heavy industry, telecommunications, infrastructure, and aerospace.
For more information
This sale of AMD's common stock has been made by means of a prospectus. Copies of the final prospectus may be obtained, when available, by contacting Ruth Cotter, AMD Investor Relations (+ 1-408-749-3887).
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Press/Analyst Contacts:
AMD Public Relations
Drew Prairie
+1-512-602-4425
AMD Investor Relations
Ruth Cotter
+1-408-749-3887
Mubadala Development Company
Jacquelyn Miller
+971-050-611-6798
Posted by Medilyn Manibo, Assistant News EditorSaturday, November 17 - 2007 at 08:20 UAE local time (GMT+4)
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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