Intel to sell 10% stake in IMS Nanofabrication to TSMC

FILE PHOTO: U.S. chipmaker Intel Corp's logo is seen on their "smart building" in Petah Tikva, near Tel Aviv, Israel. December 15, 2019. REUTERS/Amir Cohen/File Photo

(Reuters) -Intel said on Tuesday it has agreed to sell a stake of about 10% in the IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Co.

The transaction values IMS at about $4.3 billion. Intel will retain majority ownership of IMS, and the transaction is expected to close in the fourth quarter.