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Bloomberg reports Coller Capital, HarbourVest Partners, Lexington Partners, and other investment firms have shown interest in the VC portfolio assets Intel (INTC) has put up for sale.
- In-line with a March Bloomberg report about the sale effort, sources state the assets, which consist of just part of Intel's broader VC portfolio, are worth ~$1B. They add first-round bids are expected by June, and that one buyer will likely acquire all of the assets.
- A VC asset sale would strengthen a balance sheet that $15.1B in cash ($14B offshore) and $25.4B in debt at the end of Q1. Intel has raised debt both to pay for buybacks and to finance the $16.7B Altera acquisition.