By Milana Vinn

NEW YORK (Reuters) -Renesas Electronics Corp. is exploring a sale of its timing division in a deal that could value the business at close to $2 billion, according to people familiar with the matter.

The Japanese semiconductor manufacturer is working with investment bankers at JPMorgan on the potential divestment, which is in its early stages, the sources said.

The process is expected to draw interest from other major chipmakers, including U.S.-based Texas Instruments and Germany’s Infineon, the sources added, requesting anonymity to discuss confidential information.

Renesas and JPMorgan declined to comment. Texas Instruments and Infineon didn’t immediately return requests for comment.

The division develops and supplies specialized integrated circuits that manage clock,

See Full Page