WASHINGTON A U.S. panel that reviews transactions involving strategic industries has cleared a foundry investment deal between government-owned Advanced Technology Investment Corp. of Abu Dhabi and Advanced Micro Devices.
AMD (Sunnyvale, Calif.) said Tuesday (Jan. 6) in a statement that the Committee on Foreign Investment in the United States has cleared a semiconductor manufacturing joint venture announced in October to be called the Foundry Co.
AMD said last month it would reduce its equity stake in the joint venture from about 44 percent to 34.2 percent. The deal allows AMD to divest its manufacturing assets as it embarks on a streamlined "fab lite" strategy.
The review panel also said a proposed additional investment in AMD by Abu Dhabi's Mubadala Development Co. would not be subject to government review.
The interagency panel reviews foreign investments in U.S. companies to ensure they will not harm national security.