AMD (AMD +1.5%) expects to record a $16M gain related to the transaction, which involves an "engineering center of excellence" that employs ~500 people. (PR)
The deal comes 5 months after AMD closed the $164M sale/lease-back of its Austin campus. The chipmaker has been looking for ways to shore up its balance sheet after getting hit with a series of debt rating downgrades.
AMD had $1.18B in cash/investments at the end of Q2, and $2.05B in debt. Analysts expect the company to lose $0.15/share this year, but earn $0.14/share in 2014.