Abu Dhabi’s governent-owned Advanced Technology Investment Co. said Monday it agreed to buy Singapore’s Chartered Semiconductor Manufacturing Ltd. for 2.5 billion Singapore dollars ($1.8 billion) in cash according to press release published at the later company website.
Chartered, which makes chips for Microsoft Corp.’s Xbox 360 game console, will be combined with Globalfoundries, which ATIC started last year with Advanced Micro Devices Inc.
ATIC will pay SG$2.68 a share, Chartered said in a statement. Its shares closed at SG$2.66 on Friday.
The transaction will close during the fourth quarter, the company said.
Temasek Holdings, Singapore’s state investment company, owns 62 percent of Chartered’s shares.