Intel to repurchase 49% stake in Fab 34 manufacturing facility in Ireland from Apollo Global Management for $14.2 billion

Intel announced plans to repurchase a 49% stake in its Fab 34 joint venture in Ireland for $14.2 billion, effectively unwinding a 2024 transaction. This deal with Apollo Global Management allows Intel to regain full control of a key European manufacturing asset. Fab 34 is a high-volume manufacturing facility producing chips like Intel Core Ultra and Xeon 6 processors, which are central to data center environments. The transaction will be funded through a combination of cash on hand and approximately $6.5 billion in new debt, with the deal expected to be accretive to earnings per share starting in 2027. Intel emphasized that Ireland remains central to its global manufacturing footprint and will continue investing in the site to expand capacity and improve execution.

Counterparts (2)

Buyer

Intel

company

Intel is a technology company that designs and manufactures a wide range of products, including microprocessors, chipsets, and other components. They are involved in infrastructure through their technology solutions for data centers, networking, and edge computing.

Seller

Apollo Global Management

company

Apollo Global Management is a leading global alternative investment manager. They invest across a range of industries and geographies, with a significant focus on infrastructure assets.