By Will Feuer
Intel said it has agreed to sell a roughly 10% stake in its IMS Nanofabrication business to contract-chip manufacturer TSMC in a deal that Intel says values the IMS business at about $4.3 billion.
Intel said it will continue to hold a majority stake in the business, which will keep operating as a standalone subsidiary of Intel. The deal is expected to close in the fourth quarter.
In June, Intel said it agreed to sell a roughly 20% stake in the IMS business to private-equity firm Bain Capital.
Intel first invested in IMS in 2009 and then bought the rest of the company in 2015.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
September 12, 2023 08:57 ET (12:57 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.