LONDON Chartered Semiconductor Manufacturing Ltd. has announced that its acquisition by Advanced Technology Investment Company LLC (ATIC) of Abu Dhabi has become effective Friday (Dec. 18). The acquisition of Chartered is being made through ATIC International Investment Company LLC, a wholly-owned subsidiary of ATIC.
"The acquisition process is now completed. On behalf of the board, I want to express my sincere gratitude for the support of our ordinary shareholders who overwhelmingly voted in favor of this transaction and to our employees who have continued to deliver their best to customers during this transition phase," said Jim Norling, chairman of the board of directors at Chartered, in a statement.
"With the approval process behind us, we will now focus our attention on combining two great companies, Chartered and Globalfoundries," said Ibrahim Ajami, chief executive officer of ATIC. "Customers have told us they are excited about the combination of technology, talent and capacity this new entity will bring to the marketplace. We share their enthusiasm."
The American Depositary Share (ADS) program of Chartered is terminated with effect from today and the ADSs will cease trading. Chartered is scheduled to be delisted from the Nasdaq on Dec. 28, 2009 and the Singapore stock exchange on Dec. 29, 2009, and will be deregistered from the US Securities Exchange Commission in due course, Chartered said. The date for payment to shareholders is scheduled for December 28, 2009.
ATIC is a technology investment company wholly owned by the government of Abu Dhabi. This acquisition is its second major investment in the semiconductor industry and follows its creation in March 2009 of Globalfoundries, a U.S.-headquartered, semiconductor manufacturing company.
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