AMD was able to sell its campus in Austin for $ 164 million

According to Reuters, AMD managed to sell its group of buildings with a common infrastructure, located in Austin, Texas, for $ 164 million. For the first time information about the fact that AMD is going to sell his town Lone Star Campus in Austin , appeared in November last year.

Buyer acts Spear Street Capital. The deal provides for the simultaneous conclusion of the lease of buildings and premises for 12 years. Thus, AMD will continue to use the campus, giving the proceeds from the sale of funds to finance its core activities.

Property for sale leaseback is an accepted practice for companies that lack of cash. A recent example can recall sale in December last year, the headquarters of Nokia in Finland for 170 million euros . Late last month , Sony has sold an office building in Tokyo for $ 1.2 billion .

AMD has also has experience of similar operations. In 1998, the company sold and leased its headquarters in Sunnyvale, California.

Source: Reuters