Intel will sell TSMC a minority stake in its IMS Nanofabrication business

Intel Corp.
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plans to sell a roughly 10% stake in its IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Co. Ltd.
TSM,
+0.98%,
the company said Tuesday morning. Intel back in June announced plans to sell a roughly 20% stake in that business to Bain Capital Special Situations. Intel will keep its majority ownership of IMS and operate it as a standalone subsidiary. The deal with TSMC is expected to close in the fourth quarter. “This investment demonstrates the deep industry collaboration IMS is pioneering to advance critical lithography technology for leading-edge nodes, which will benefit the entire semiconductor manufacturing ecosystem,” Matt Poirier, Intel’s senior vice president of corporate development, said in a release.