Apollo Global and Intel have agreed an $11bn financing deal for Intel’s chip manufacturing plant in Leixlip, Ireland, in the latest sign of companies tapping private capital groups to fund expansion projects.
The deal, details of which were reported last month, will hand Apollo a 49 per cent equity stake in a joint venture linked to the facility.
Intel says it expects the transaction to close during the second quarter of 2024.
Intel’s “Fab 34” chip factory is already largely complete and will manufacture Intel’s latest PC and data centre chips.