Intel will repurchase a 49% equity stake in its Fab 34 joint venture from Apollo for $14.2 billion. This transaction reverses a 2024 financing deal involving the Leixlip, Ireland, facility.
Fab 34 produces advanced semiconductors using Intel 3 and Intel 4 process technologies. Intel expects the acquisition to be accretive to its ongoing earnings per share.
The company will fund the deal through existing cash reserves. It also plans to issue approximately $6.5 billion in new debt to complete the purchase.