By Nick Flaherty, eeNews Europe (September 30, 2022)
Late on Friday Intel announced it is preparing to sell shares in its loss making Israeli driverless car technology subsidiary Mobileye.
The financial details of the offering for Mobileye were not disclosed, except that Intel will retain control of the venture through a majority of the Class B shares. It had been looking to value the venture, to be called Mobileye Global, at around $30bn, although the proposed share price was not included in the filing with the Securities Exchange Commission (SEC) in the US. The deal does include the Israeli Moovit real time public transport data app business that Intel acquired in 2020.
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