Abu-Dhabi-based Atic will pay $2.5 billion for the shares and assume $3.1 billion in debt and convertible redeemable preference shares. Temasek have accepted the offer. Atic is on an acquisition spree to acquire and consolidate chip companies. Analysts say chipmakers have been struggling with excess capacity and need economies of scale to survive. TODAY newspaper in Singapore reports that the deal will help Chartered compete with Taiwanese rivals e.g.TSMC, and United Microelectronics Group (UMC). Temasek own 62% of Chartered shares.
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