Apollo To Provide $11 Billion To Intel For Ireland Facility (reuters.com) 9
Apollo Global announced today that it will acquire a 49% equity interest in Intel's manufacturing facility in Ireland for $11 billion, in a deal expected to close in the second quarter. The deal "would allow Intel to redeploy parts of its investment in the project to other parts of its business," reports Reuters. "Intel has invested $18.4 billion in the facility till date." From the report: Apollo will acquire the stake in the Fab 34 facility in Leixlip, Ireland, the U.S. chipmaker's first high-volume location for its Intel 4 manufacturing process using extreme ultraviolet lithography machines. 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 as the bloc looks to cut its dependence on U.S. and Asian supply. Intel will retain full ownership and operational control of Fab 34 and its assets.
Apollo... 11? (Score:2)
Apollo? (Score:2)
Is this the same company that sent Louis Armstrong to the moon?
Re: (Score:1)
Apollo? (Score:2)
Not that long ago we learned Apollo was partnering with Sony to buy out Paramount. So? Is Apollo trying to tank what's left of these companies for full corpse rapage, like what happened to Toys R Us and countless other businesses? Cause it seems Intel may be ripe for exactly that kind of plucking at the moment.
Re: (Score:2)
Not that long ago we learned Apollo was partnering with Sony to buy out Paramount. So? Is Apollo trying to tank what's left of these companies for full corpse rapage, like what happened to Toys R Us and countless other businesses? Cause it seems Intel may be ripe for exactly that kind of plucking at the moment.
Having worked for a company Apollo bought up and ruined (went from a renowned service provider loved by customers to the poster child of how to kill a company by offshoring and trying to lock customers into long contracts) I can say that Intel are gong to get shafted and Ireland will probably have to pick up the bill (and/or pieces).