Advanced Technology Investment Company LLC's (ATIC) acquisition of Chartered Semiconductor Manufacturing Ltd (Chartered) of Singapore became effective December 18, 2009. ATIC made its acquisition by way of a scheme of arrangement under section 210 of the Companies Act of Singapore (the Scheme), and Chartered ordinary shareholders approved the acquisition last month. As all the requisite regulatory approvals and conditions precedent have been received, a copy of the order of the High Court sanctioning the Scheme was lodged with the Accounting and Corporate Regulatory Authority of Singapore today, making the Scheme effective and binding on all Chartered ordinary shareholders.
"The acquisition process is now completed. On behalf of the Board, I want to express my sincere gratitude for the support of our ordinary shareholders who overwhelmingly voted in favor of this transaction and to our employees who have continued to deliver their best to customers during this transition phase,” said Jim Norling, Chairman of the Board of Directors at Chartered.
“With the approval process behind us, we will now focus our attention on combining two great companies, Chartered and GLOBALFOUNDRIES," said Ibrahim Ajami, Chief Executive Officer of ATIC. “Customers have told us they are excited about the combination of technology, talent and capacity this new entity will bring to the marketplace. We share their enthusiasm.”
ATIC is a technology investment company wholly owned by the government of Abu Dhabi. This acquisition is its second major investment in the semiconductor industry and follows its creation in March 2009 of Globalfoundries, a U.S.-headquartered, leading-edge semiconductor manufacturing company and a joint venture with AMD. The acquisition of Chartered is made through ATIC International Investment Company LLC, a wholly-owned subsidiary of ATIC.
Chartered
ATIC
