Intel to Buy Apollo's Stake in Joint Ireland Chip Manufacturing Facility for $14.2 Billion
By Elias Schisgall
Intel agreed to buy Apollo Global Management's 49% stake in the companies' Fab 34 joint venture chip manufacturing plant in Ireland for $14.2 billion.
Intel said it would fund the purchase through a combination of cash on hand and about $6.5 billion in new debt issuances. Intel expects the transaction to add to ongoing earnings per share and strengthen the company's credit profile beginning in 2027.
Apollo led an $11.2 billion investment for the 49% stake in 2024. The agreement was "the right structure at the right time," Intel Chief Financial Officer David Zinsner said, adding that the company now has a stronger balanced sheet and an evolved corporate strategy.
"We appreciate Apollo's continued collaboration to reach this outcome as we realign our capital structure with our long-term strategy," Zinsner said.
Apollo said it was pleased to facilitate the transaction and support Intel's priorities.
Fab 34 makes semiconductors for products using Intel 4 and Intel 3 process technologies.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
April 01, 2026 09:33 ET (13:33 GMT)
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