UAE’s government transfers ATIC ownership to Mubadala

17 Feb 2011

(MENAFN) The Chief Operating Officer of Mubadala, Waleed al Muhairi, said that Mubadala took the ownership of Advanced Technology Investment Company (ATIC), which was owned by the Abu Dhabi Government, reported The National.

Al Muhairi said that since Mubadala is known for being successful in selling bonds and raising funds from investors for companies it owns, transferring the ownership of ATIC would enable the company to collect funds from investors for the development of its technology project.

It is worth noting that ATIC was established in 2008, before it acquired a majority share in the semiconductor business of Advanced Micro Devices (AMD).

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