Intel Corp.
plans to sell a roughly 10% stake in its IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Co. Ltd. TSM, -0.04%, 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.