Buyout firm Apollo Global Management will acquire a 49% equity interest in Intel's manufacturing facility in Ireland for $11 billion, the companies said on Tuesday.
Apollo will acquire the stake in the Fab 34 facility in Leixlip, Ireland, the U.S. chipmaker's first high-volume location for its Intel 4 manufacturing process using extreme ultraviolet lithography machines.
Intel has invested $18.4 billion in the facility till date.
Intel will retain full ownership and operational control of Fab 34 and its assets.
"This transaction allows us to share our investment with an established financial partner on attractive terms," Intel Chief Financial Officer David Zinsner said.
Persons:
David Zinsner
Organizations:
Apollo Global Management, Intel
Locations:
Ireland, Leixlip, U.S, France