AMD conclude positivamente la transazione "Asset Smart" creando due aziende leader nel settore tecnologico
AMD ha annunciato la positiva conclusione della transazione strategica “Asset Smart” con Advanced Technology Investment Company (ATIC) e Mubadala Development Company di Abu Dhabi, stabilendo le basi per il lancio formale della prima fabbrica di semiconduttori con sede negli Stati Uniti, temporaneamente denominata "The Foundry Company". The Foundry Company sarà presentata ufficialmente con la denominazione definitiva nel corso della settimana.
AMD ha ottenuto da ATIC 700 milioni di dollari per una quota di proprietà di The Foundry Company mentre quest'ultima si è assunta la responsabilità di ripagare circa 1,1 miliardi di dollari di debiti AMD associati all'operazione. Dal canto suo, Mubadala ha versato ad AMD 125 (1) milioni di dollari circa per 58 milioni di nuove azioni AMD e warrant per ulteriori 35 milioni di azioni.
"Con la positiva conclusione di quest'operazione di portata storica, AMD e i suoi partner danno vita a due solide aziende leader, capaci di influenzare il corso futuro dell'intero settore tecnologico", ha dichiarato Dirk Meyer, Presidente e Chief Executive Officer di AMD. "La nostra strategia 'Asset Smart' rappresenta molto più che assicurare ad AMD l'accesso a lungo termine a una fabbrica di semiconduttori di altissimo livello, elemento funzionale alla nostra strategia di crescita. Si tratta infatti di rivoluzionare l'intero settore. ATIC è il partner ideale che ci sta aiutando a compiere un ulteriore salto di qualità nella nostra expertise quarantennale nel settore dei semiconduttori, fornendo un fondamento produttivo in grado di consentire a tutto il settore di introdurre innovazioni di nuova generazione. Siamo fieri della nostra vision, delle opportunità che creiamo in tutto il mondo e della fortuna di poter contare su partner strategici come ATIC e Mubadala, e diamo il benvenuto a Mubadala nel consiglio di amministrazione di AMD. Siamo certi che questa strategia e questa partnership permetteranno ad AMD di ottenere un successo a lungo termine nella progettazione e nell'integrazione di tecnologie grafiche e per il mondo computing avanzate, in grado di ottimizzare l'esperienza degli utenti".
Di seguito la notizia in dettaglio, in inglese.
Per ulteriori informazioni:
IR Contact: Ruth Cotter, (408) 749-3887, Ruth.Cotter@amd.com
“The Foundry Company”:
PR Contact: Travis Bullard, (512) 602-5667, email@example.com
U.S.Contact: Richard Mintz, (202) 295-8772, firstname.lastname@example.org
Abu Dhabi Contact: Kate Triggs, +971 50 6853 101, email@example.com
U.S. Contact: Amanda Orr, (202) 295-8786, firstname.lastname@example.org
Abu Dhabi Contact: Daniel Slack-Smith, +971 2 499 1622
AMD Closes “Asset Smart” Transaction – Fulfills Vision to Create Two Leadership Companies Capable of Delivering Transformative Innovation and Impact to the Global Technology Industry
— AMD and Advanced Technology Investment Company form well-resourced U.S. based global semiconductor manufacturing services company —
— Strategic partner Mubadala Development Company increases stake in AMD —
SUNNYVALE, Calif. — Mar. 2, 2009 — AMD (NYSE: AMD) today announced it has closed its Asset Smart strategic transaction with the Advanced Technology Investment Company (ATIC) and Mubadala Development Company of Abu Dhabi, setting the stage for the formal launch of the world’s only U.S.-headquartered semiconductor foundry, temporarily called “The Foundry Company.” The Foundry Company is expected to formally launch and disclose its new name and visual identity later this week.
AMD received $700 million from ATIC for a portion of its ownership interests in The Foundry Company, The Foundry Company assumed responsibility for the repayment of approximately $1.1 billion of associated AMD debt, and Mubadala paid AMD approximately $125 million (1) 58 million newly issued AMD shares and warrants for 35 million additional shares.
“With the close of this historic transaction, AMD and its committed partners have conceived two strong industry-leading companies capable of charting future courses that will dramatically improve the technology industry,” said Dirk Meyer, president and chief executive officer of AMD. "Our ‘Asset Smart’ strategy is about more than providing AMD with long term access to world-class, leading-edge semiconductor manufacturing that is foundational to our growth strategy. It is about transforming the industry. ATIC is the ideal partner to help scale AMD’s forty years of semiconductor expertise, and provide a manufacturing foundation for the entire industry to produce the next generation of semiconductor innovations. We are proud of our vision, the opportunities we are creating around the world, and fortunate to have astute, committed strategic partners in Mubadala and ATIC, and we are delighted to welcome Mubadala to the board of AMD. We are confident that this strategy and partnership will enable AMD to achieve long-term success based on designing and integrating industry-leading computing and graphics technologies that deliver compelling user experiences.”
Final Asset Smart Transaction Terms Overview
Upon closing, AMD:
- Improves its cash position by approximately $825 million, excluding its consolidation of the operations of The Foundry Company for financial reporting purposes, through ATIC’s $700 million payment for a portion of AMD’s ownership interests in The Foundry Company and Mubadala’s purchase for approximately $125 million of 58 million newly issued AMD shares of common stock and warrants for 35 million additional shares;
- Will appoint a Mubadala designee as a member of its board of directors; and
- Has the option, but not any requirement, to provide additional capital funding to The Foundry Company in response to future capital calls.
Upon closing, The Foundry Company:
- Has a total enterprise value of approximately $4.3 billion, consisting of AMD's contribution of manufacturing assets and liabilities, (including its fabrication facilities in Dresden), intellectual property and employees valued together at approximately $1.8 billion; ATIC's contribution of $1.4 billion in new capital; and approximately $1.1 billion of debt assumed by The Foundry Company from AMD;
- Will be consolidated with AMD for purposes of financial reporting;
- Has a board of directors whose membership is equally divided between representatives appointed by AMD and ATIC;
- Has only AMD and ATIC as stockholders, each of which owns 50 percent of the outstanding shares of The Foundry Company and has a 50 percent voting interest in The Foundry Company;
- Is owned 34.2 percent by AMD and 65.8 percent by ATIC on a fully converted to common shares basis. ATIC’s fully converted ownership may increase over time based on the differences in securities held by AMD and ATIC, and depending on whether AMD elects to invest proportionately with ATIC in future capital infusions to support The Foundry Company’s growth.
Advanced Micro Devices (NYSE: AMD) is an innovative technology company dedicated to collaborating with customers and technology partners to ignite the next generation of computing and graphics solutions at work, home and play. For more information, visit http://www.amd.com.
The Advanced Technology Investment Company (ATIC) was created in 2008. A technology investment company wholly owned by the Government of Abu Dhabi, ATIC is focused on making significant investments in the advanced technology sector, both locally and internationally. Its mandate is to generate returns that deliver long-term benefits to the Emirate of Abu Dhabi.
ATIC seeks to leverage the unique advantages it enjoys as an investor from the Emirate of Abu Dhabi to identify and realize long-term investment opportunities in the highly competitive and capital-intensive advanced technology sector. These advantages include significant and reliable capital, a patient investment philosophy, and a subsequently long-term investment horizon. For more information about ATIC visit http://www.advancedtechnologyic.com
About “The Foundry Company”
The Foundry Company will be a U.S.-headquartered, leading-edge semiconductor foundry. The Foundry Company will combine advanced process technology and industry-leading manufacturing facilities. The cornerstone of production for The Foundry Company will be industry-leading manufacturing facilities in Dresden, Germany with future plans to expand that campus as well as build a state-of-the art facility in Saratoga County, New York. Upon closing, The Foundry Company will have its principal headquarters in Silicon Valley; and its research and development and manufacturing leadership teams and ecosystems in New York, Dresden, and Austin.
About Mubadala Development Company
Mubadala Development Company (Mubadala) is a Public Joint Stock Company headquartered in Abu Dhabi, capital of the United Arab Emirates. Its focus is on developing and managing an extensive and economically diverse portfolio of commercial initiatives. It does this either independently or in partnership with leading international organizations. Mubadala’s commercial strategy is fundamentally built on long-term capital-intensive investments that deliver strong financial returns.
The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi. Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.
Mubadala’s sole shareholder is the Government of the Emirate of Abu Dhabi. For more information about Mubadala, its partnerships and activities please visit http://www.mubadala.ae.
(1) Reflects purchase price of $2.15 per share, which is the average of the closing prices of AMD common stock on the NYSE for the 20 trading days immediately prior to and including December 12, 2008.