Update: Intel to Repurchase 49% Equity Interest in Ireland JV From Apollo Global Management

(Updates to include more details in the second paragraph.)

Intel (INTC) and Apollo Global Management (APO) said Wednesday they have reached a deal under which Intel will buy back for $14.20 billion the 49% stake in the joint venture related to its Fab 34 plant in Ireland that it previously sold to Apollo.

The repurchase will be funded using existing cash and about $6.5 billion in proceeds from the issuance of new debt. Intel said it expects the transaction to be accretive to ongoing EPS and to support its credit profile in 2027 and beyond.

Apollo-managed funds and affiliates purchased the 49% equity interest in 2024 for $11.20 billion, the companies said.

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