Intel to repurchase 49% equity interest in Ireland Fab joint venture

Intel Corporation (INTC) and Apollo (APO) announced a definitive agreement for Intel to repurchase the 49% equity interest in the joint venture related to Intel’s Fab 34 in Ireland not held by Intel for $14.2 billion. The agreement reflects Intel’s continued business momentum underpinned by the growing and essential role CPUs play in the era of AI, a significantly strengthened balance sheet and the strong partnership between Intel and Apollo. The repurchase of the 49% JV stake is expected to be funded through cash on hand and proceeds from the issuance of new debt of approximately $6.5 billion. The transaction is expected to be accretive to ongoing EPS while strengthening Intel’s credit profile in 2027 and beyond. Intel continues to expect it will retire debt maturities as they come due in 2026 and 2027.