Abu Dhabi’s Mubadala has sold 34.9 million common equity shares in Advanced Micro Devices

Abu Dhabi’s Mubadala has sold 34.9 million common equity shares in US microchip and semiconductor firm Advanced Micro Devices (AMD), the organization reported on Tuesday.

As per an announcement from Mubadala, the organization additionally plans convert 75 million warrants into common equity shares which will give AMD $448.5 million.

The arrangement will leave Mubadala a 6.9 percent investor in the organization once the warrants are changed over.

Despite the fact that the deal cost of the common equity shares was not revealed, as indicated by media reports it was roughly $842 million dependent on Monday’s end costs.

A Mubadala spokesman said in a statement quoted by The National, “Today’s transaction remains in line with Mubadala’s overall investment strategy to monetise mature holdings to deliver attractive commercial returns.”

He even said, “We have had a long-standing relationship with AMD over the past decade and remain among the company’s top shareholders,” he said. “We are proud of our partnership with AMD and are confident in the management team’s ability to execute against their technology road map and deliver innovative products to the market.”

Mubadala – which is active in 13 parts in more than 30 nations – deals with an arrangement of about $225 billion.

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