Intel and Apollo in $11 Billion Joint Venture for Chip Manufacturing Plant in Ireland
Provided by
Dow Jones
By Josh Beckerman
Intel and Apollo Global Management have entered into a joint venture in connection with the chip maker's Fab 34 manufacturing facility in Ireland.
Apollo will lead an $11 billion investment for a 49% equity interest stake in the facility.
To date, Intel has invested $18.4 billion in Fab 34. The "transaction allows Intel to unlock and redeploy to other parts of its business a portion of this investment while continuing the build-out of Fab 34," the company said in a filing.
The Wall Street Journal reported in May that Intel and Apollo were in talks.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 04, 2024 16:38 ET (20:38 GMT)
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