On April 29, 2016, AMD completed the sale of a majority of the equity interests in Suzhou TF-AMD Semiconductor Co., Ltd. (formerly, AMD Technologies (China) Co., Ltd.), and TF-AMD Microelectronics (Penang) Sdn. Bhd. (formerly, Advanced Micro Devices Export Sdn. Bhd.), to Tongfu Microelectronics Co., Ltd. (TFME), a Chinese joint stock company. As a result of the sale, TFME owns 85% of the equity interests in the JV while AMD owns the remaining 15%.