ABU DHABI: Abu Dhabi’s Mubadala Investment Company on Friday said it sold a 3.9 percent stake in Advanced Micro Devices in its second sale of shares in the US-based semiconductor company this year.
State-owned Mubadala sold 40 million shares or 3.9 percent of the outstanding shares of the company, inclusive of warrants and excluding the convertible bonds, Mubadala spokesman Brian Lott said.
The value of the deal was not disclosed.
According to Reuters calculations, the sale value was $529.6 million (SR1.98 billion) based on AMD’s closing share price of $13.24 on Thursday.
“This is in line with Mubadala’s strategy as a financial investor with a long-term perspective, to optimize our shareholding in certain assets and monetize them at the appropriate time,” Lott said.
In March, Mubadala sold 45 million shares for around $613 million.
Mubadala continues to be the largest shareholder in AMD, holding 57 million common shares and 75 million warrants, representing a 12.9 percent stake.
Mubadala, which has stakes in General Electric and private equity firm Carlyle Group, among others, was formally merged with another Abu Dhabi investment fund, International Petroleum Investment Company in January.
The merger created a firm with assets of about $122 billion based on valuations at the end of 2016.
Abu Dhabi’s Mubadala sells 3.9% stake in chipmaker AMD
Abu Dhabi’s Mubadala sells 3.9% stake in chipmaker AMD
No Saudi acquisition offers: FC Barcelona tells Al-Eqtisadiah
CAIRO: FC Barcelona has not received any offers, whether from Saudi Arabia or elsewhere, to acquire the club, according to an official source who spoke to Al-Eqtisadiah.
According to the source, the circulating news regarding the possibility of finalizing a deal to acquire the club in the coming period is a mere rumor.
Recent Spanish reports had indicated the possibility of a Saudi acquisition of Barcelona shares for around €10 billion ($11.7 billion), a move considered capable of saving the club from its financial crises if it were to happen, especially as it suffers from debts estimated at around €2.5 billion.
Sale not in management’s hands
Joan Gaspart, the former president of the club, confirmed that the current board of directors, chaired by Joan Laporta, does not have the right to dispose of the club’s ownership.
He added: “FC Barcelona is owned by about 150,000 members, and selling the club is something the owners will not accept. FC Barcelona possesses something no other club in the world has; money is very important, and so is passion, but the sentiment of the members today is to continue what the club has been for 125 years.”
High market value
Despite the financial crisis the club has been going through in recent years, FC Barcelona ranks sixth on the list of the world’s highest market value clubs, with an estimated value of €1.12 billion, according to Transfermarkt. Meanwhile, its rival Real Madrid tops the list with a market value of €1.38 billion.
