AMD Sells Austin Location for $164 Million; Plans to Lease It Back Over Time

bp9801 - March 12, 2013 08:55PM in General News

Last November, word broke that AMD was looking to sell and lease its Austin, Texas, location to earn some money. Earlier today the sale was made official, with AMD netting $164 million from it all. Earnings from the sale should reflect in the company's first quarter financial results when those are reported later next month. Since this is a sell and lease, AMD signed a 12-year lease with an option to continue operations on the location. The deal is expected to close around March 26, and when it does is just the latest part in AMD's long process to "reduce investments and capital in non-core parts of its business, including real estate."

Source: AMD