Apollo buys 49% of Irish Intel factory

It’s the second such investment programme that Intel has announced, part of an effort to lessen the burden on its already-stretched finances. — Bloomberg

SAN FRANCISCO: Intel Corp agreed to sell a stake in a plant in Ireland to Apollo Global Management Inc for US$11bil, helping bring in more external funding for a massive expansion of its factory network.

Under terms of the deal, the investment firm will take a 49% share of a joint venture that owns Intel’s Fab 34, the chipmaker said in a statement.