ATIC ready to combine Chartered Semiconductor with GlobalFoundries

By Lisa Kerner

Charlotte, N.C., Dec. 18 - Advanced Technology Investment Co. LLC said on Friday it completed its acquisition of Chartered Semiconductor Manufacturing Ltd. under the companies' previously announced scheme of arrangement.

As previously reported, Chartered agreed in September to be acquired by ATIC for S$2.68 per share. Each of Chartered's American Depositary Shares will be exchanged for an estimated $18.641.

The transaction is valued at $3.9 billion including debt.

Chartered will be combined with GlobalFoundries Inc., a Sunnyvale, Calif., semiconductor manufacturer.

ATIC, a technology investment company owned by the government of Abu Dhabi, created GlobalFoundries in March 2009 in a joint venture with Advanced Micro Devices Inc.

Chartered is a Singapore-based company that provides wafer fabrication services and technologies to semiconductor suppliers and systems companies primarily in North America, Europe and Asia.

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