Abu Dhabi government Invests $8.4 billion in AMD

Abu Dhabi will pay $700 million for a stake in a new company that will own two plants in Germany and build a factory in New York, newswire Bloomberg reported on Tuesday.

The new company, which will assume $1.2 billion of AMD's debt, will receive as much as $6 billion from Abu Dhabi to expand plants and get $1.4 billion in operating capital.

Abu Dhabi will also pay $314 million to double its stake in AMD to 19%, AMD said today in an e-mailed statement.

The cash infusion is a lifeline for AMD, which is forecast to report a third straight annual loss this year and is falling behind on investments needed to keep up.

Comments

Popular posts from this blog

Access Pay sites without payment or authentication

How to Downgrade IPOD Touch Firmware

116 Open Source Application that you can use