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AMD will be paid $700 million dollars |
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| Wed, October 08 2008 | 10:39PM | PermaLink |
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"AMD will finally culminate their "asset light" plan by spinning off
the manufacturing side of the business to a group funded by $8.4 billion
dollars from Abu Dhabi. Bloomberg has the full story that talks about the
various stakes and financial investments from both sides of the new
investment. AMD will be paid $700 million dollars from the Abu Dhabi group
and will pass on $1.2 billion dollars in AMD's debt to form the new
manufacturing company, to be known as "Foundry Co.," that will be infused
with another $6 billion to expand and operate. The new company will be
responsible for making all of AMD's CPUs but will seek contracts from other
companies."
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