(Reuters) -Apollo Global Management’s affiliates will provide $11 billion to Intel to buy 49% equity interest in a joint venture entity related to an under-construction manufacturing facility in Ireland.
Located in Leixlip, Ireland, the Fab 34 facility is Intel’s leading-edge high-volume manufacturing facility designed for wafers using the Intel 4 and Intel 3 process technologies, the company said on Tuesday.
The company announced plans in 2022 to build chip factories in Ireland and France as it seeks to benefit from easier European Commission funding rules and subsidies.
Intel said it has invested $18.4 billion in Fab 34 and the transaction allows Intel to unlock and redeploy to other parts of its business a portion of this investment.
(Reporting by Sourasis Bose in Bengaluru; Editing by Maju Samuel)
