(Bloomberg) — Apollo Global Management Inc., KKR & Co. and Stonepeak could pump billions of dollars into a joint venture that will help finance Intel Corp.’s semiconductor manufacturing plant. in Ireland, according to people with knowledge of the matter.
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Alternative asset managers are considering investing in a joint venture that could raise several billion dollars, including debt, the sources said. The chipmaking giant, which is working with an advisor, has begun soliciting interest from potential investors, Bloomberg News reported in February.
Terms, including the size and structure of the possible joint venture, have not been finalized and could still change, the sources said.
Representatives for Apollo, KKR, Stonepeak and Intel declined to comment.
In December 2020, an Apollo-led consortium agreed to acquire a 49.9% stake in Anheuser-Busch InBev’s US-based metal container plants, in a deal that saw AB InBev to repay its debt while retaining control of the unit.
Any deal with Apollo would follow a 2022 transaction in which Brookfield Infrastructure Partners agreed to invest up to $15 billion for a 49% stake in Intel’s manufacturing expansion at its Ocotillo campus in Chandler, Arizona.
–With help from Ian King.
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