Intel sells 51% of McAfee

Under the deal a jv is formed in which Intel owns 49% of the security group and TPG has 51%.

TPG will pay Intel $3.1 billion in cash.

The jv will be called McAfee.

It is stated that the transaction values the business at $4.2 billion.

TPG will make an equity investment in the jv of $1.1 billion.