Intel to sell its stake in joint venture with Apollo for $11 billion
Intel, one of the world’s largest microchip manufacturers, reached an agreement with Apollo Global Management to sell its 49 percent share in the joint venture established for its new production facility in Ireland for $11 billion.
According to the statement made by the companies, Apollo will acquire Intel‘s share in the joint venture of Fab 34, which was established in Ireland to produce Intel 4 using extreme ultraviolet lithography machines.
The $11 billion deal is expected to be completed this year.
Fab 34, the first high-volume ultraviolet lithography production center in Europe, in which Intel invested $18.4 billion, became operational in Leixlip, Ireland, in September 2023.