Chartered Semiconductor bought by Abu Dhabi firm

Advanced Technology Investment Company, owned by the government of Abu Dhabi, has finalised its acquisition of Singapore's Chartered Semiconductor Manufacturing.

In a statement, ATIC said the purchase was effective from Friday following the acquisition of regulatory approvals from Singapore's High Court. Chartered Semiconductor's shareholders had also given their blessings to the deal last month.

"With the approval process behind us, we will now focus our attention on combining two great companies, Chartered and Globalfoundries," ATIC chief executive Ibrahim Ajami said in the statement. ATIC has the majority stake in Globalfoundries, the manufacturing arm of AMD.

For more on this story, see Abu Dhabi firm finalizes Chartered deal on ZDNet Asia.