Abu Dhabi Investors to Buy Singapore's Chipmaker for $1.8 billion

Abu Dhabi investors Advanced Technology Investment Company (ATIC), a technology investment company, today agreed to buy Singapore's Chipmaker Chartered Semiconductor, one of the world’s top dedicated semiconductor foundries, for $1.8 billion.

This is ATIC's second major investment in the semiconductor industry and follows the company’s March 2009 creation of GLOBALFOUNDRIES, a U.S.-headquartered, leading-edge semiconductor manufacturing company and a joint venture with AMD. Once the transaction is completed, ATIC will be the sole owner of Chartered.

It is interesting to note that the deal involves another sovereign wealth fund Temasek Holdings, which currently owns approximately 62 percent of Chartered’s shares. They fully support the acquisition and have signed an irrevocable undertaking to vote in support of the transaction.

Here is the full technical details of the deal (35 page PDF document)