Advanced Technology buys Chartered Semi

LONDON, UK: Advanced Technology Investment Company LLC (ATIC), based in of Abu Dhabi, has bought Chartered Semiconductor Manufacturing Limited.

The acquisition of Chartered Semiconductor Manufacturing has been made through ATIC International Investment Company LLC, a wholly owned subsidiary of Advanced Technology Investment Company.

Advanced Technology Investment Company is a technology-investment company, which is wholly owned by the government of Abu Dhabi.

The acquisition of Chartered Semi is the second major investment that Advanced Technology Investment Company has made in the semiconductor industry and after it bought Globalfoundries, the semiconductor-making company based in the United States, in March 2009.

Jim Norling, chairman of the board of directors if at Chartered Semiconductor Manufacturing, said in a statement that the acquisition process has been completed, and that the focus from now on would be on combining “two great companies” – Chartered Semiconductor Manufacturing and Globalfoundries.

Following the acquisition, the American Depositary Share (ADS) programme of Chartered Semiconductor Manufacturing has been terminated, and the ADSs have stopped trading.

Chartered Semiconductor Manufacturing is slated to be de-listed from the Nasdaq on December 28, 2009, and to be de-listed from the Singapore Stock Exchange on December 29, 2009.

Chartered Semiconductor Manufacturing said in the statement that the company will be de-registered from the US Securities Exchange Commission in “due course”, and that the date for payment to shareholders has been set for December 28, 2009.