Mubadala development, investment firm and wholly subsidiary of Abu Dhabi, is set to buy 9 % of processor manufacturer AMD. Reuters reports. This neat portion of the company will cost them approximately $700 million USD. While the deal hasn’t been approved by the U.S. Committee on Foreign Investment and will certainly be thoroughly investigated before approval is given, it would be a highly welcomed addition to the ever-bleeding piggy bank sitting over at AMD.
“The second-largest maker of computer processors said in a registration statement with the U.S. Securities and Exchange Commission that it will use the proceeds from the offering for general corporate purposes, which could include reducing outstanding indebtedness, increasing working capital, acquisitions and capital expenditures.”
