ATIC moves to buy AMD's stake in GlobalFoundries

AMD currently owns a chunk of GlobalFoundries and enjoys equal voting rights with Advanced Technology Investment Company, but that could soon change. As Reuters reports, ATIC has filed an application with Germany's Bundeskartellamt, or Federal Cartel Office, to take over GlobalFoundries entirely.

We tracked down a reference to the application on the Bundeskartellamt website, and indeed, even the automated Google translation leaves little to the imagination:

12.01.2010 B7-11/10 Company:
ATIC LLC, Abu Dhabi, acquisition of sole control over GLOBALFOUNDRIES (USA)

Product markets:
Semiconductor production
- -

ATIC, which is owned by the government of Abu Dhabi in the United Arab Emirates, made no effort to downplay the move. Reuters quotes the firm as saying, "This action is simply consistent with the long-announced plan for AMD to gradually become fab-less, which was one of the key strategies behind the creation of Globalfoundries."

The creation of GlobalFoundries from AMD's former manufacturing arm left AMD with a 34.2% stake in the new entity. Since then, ATIC has merged GlobalFoundries with Singapore-based Chartered Semiconductor, and AMD has struck a new cross-licensing agreement with Intel. Thanks to that agreement, AMD can divest itself of GlobalFoundries entirely and have all of its x86 microprocessors made by third parties without running the risk of legal issues.

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