Yahoo, Wall Street Journal: Micron announced that it has signed an agreement to sell a 65% of its interest in Aptina to Riverwood Capital and TPG Capital. The exact price couldn't be learned, but Micron said it would book a loss of about $100 million as result of the transaction. Micron will retain a 35% minority stake in the independent, privately held company. As part of the arrangement with Riverwood and TPG, Micron is expected to continue manufacturing Aptina's image sensors at a facility in Italy.
Riverwood and TPG aren't expected to borrow any money for the deal. Such an arrangement holds appeal for the seller because acquisitions that rely upon financing run a higher risk of not closing. The transaction is expected to be completed in the next 60 days.