Bloomberg reported that Abu Dhabi is looking for a buyer for all or part of the GlobalFoundries company, as the emirate explores asset disposals amid a slump in crude oil, people familiar with the matter said. According to the report, the GlobalFoundries sale would bring 15 billion to $ 20 billion. It is not certain, however, who could put such a sum.
Rumors about wanting to sell one of the largest manufacturers of processors already appeared in August this year. Then it was said that, Hua Capital Management is showing interest in buying GlobalFoundries. The company was created to handle transactions contracted by the Chinese government. However, so far nothing about a possible agreement were not disclosed. There is for other information.
Globalfoundries is one of the largest contract manufacturers of semiconductors, competing with market leader Taiwan Semiconductor Manufacturing Co. for orders from companies such as Apple Inc. and Qualcomm Inc. The company was created when Mubadala bought the manufacturing facilities of Advanced Micro Devices Inc. in 2009 and combined those with its acquisition of Singapore’s Chartered Semiconductor Manufacturing Ltd. the following year. Recently, however, plans have changed and sheikhs had decided to abandon plans for the development of its chip production department. Money is required for Abu Dhabi due to falling oil prices. GlobalFoundries sale would translate into a big injection of cash.
Authorities of the company at the moment has not confirmed the reports from Bloomberg side. We must therefore wait for further developments. It is worth recalling that not so long ago belonging to the Abu Dhabi processor manufacturer introduced the first efficient systems prepared samples in the 14 nm FinFET LPP. GlobalFoundries has several branches – in Dresden, Singapore, Saratoga and East Fishkill (NY).