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UAE’s Mubadala to sell second stake in US chipmaker AMD

05 Aug 2017

(MENAFN) Mubadala Investment Company in Abu Dhabi announced it sold 3.9% stake in Advanced Micro Devices in second sale of shares in the US semiconductor company during the year.

As Mubadala sold 40 million shares or 3.9% of the outstanding shares of the company, the value of the deal was not disclosed, although media calculations said the sale value was USD529.6mln based on AMD’s closing share price of USD13.24.

The company’s spokesman said: “This is in line with Mubadala’s strategy as a financial investor with a long-term perspective, to optimise our shareholding in certain assets and monetize them at the appropriate time.”

Earlier in March, state-owned Mubadala had sold around 45 million shares of USD613mln.

MENAFN0508201700450000ID1095694916

MENAFN0508201700450000ID1095694916

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