Las Vegas, NV -- (SBWIRE) -- 08/23/2013 -- Advanced Micro Devices, Inc. (NYSE:AMD) announced on Thursday, 22nd August 2013 that its Singapore subsidiary, Advanced Micro Devices (Singapore) Pte Ltd. has entered into a provisional option agreement to sell and lease-back its Singapore facility.
The transaction is estimated to generate approximately 59 million Singapore dollars i.e. equaling USD$46 million. The net of all fees would be reflected in AMD's third quarter 2013 financial statements on October 17th, 2013.
The company expects to record a gain of approximately $16 million in its third quarter of 2013. AMD Singapore has negotiated a 10-year sub-lease agreement with Sabana REIT with extension options to continue their operations. The sub-lease would be in effect upon the close of the sale of the property.
Advanced Micro Devices, Inc. functions in two segments, Computing Solutions and Graphics. The company serves original equipment manufacturers, original design manufacturers, system builders, and as independent distributors directly. It is based in California, USA.
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