Apollo Global Management

Assembly Line

Apollo to pay $11 bln for 49% of Intel Ireland factory joint venture

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Apollo Global Management, Intel

Buyout firm Apollo Global Management will acquire a 49% equity interest in a joint venture related to Intel’s new manufacturing facility in Ireland for $11 billion. Apollo will acquire the stake in the Fab 34 joint venture in Leixlip, Ireland, the U.S. chipmaker’s first high-volume location for its Intel 4 manufacturing process using extreme ultraviolet lithography machines.

Read more at Reuters

Arconic to Be Acquired by Apollo Funds

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Arconic, Apollo Global Management

Arconic Corporation (NYSE ARNC) (“Arconic” or the “Company”) announced today that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE APO) (“Apollo”), in an all-cash transaction that values the Company at an enterprise value of approximately $5.2 billion. The transaction includes a minority investment from funds managed by affiliates of Irenic Capital Management (“Irenic”).

The agreement provides that Arconic shareholders will receive $30.00 per share in cash, which represents a premium of approximately 36% to the Company’s undisturbed closing stock price on February 27, 2023. Upon completion of the transaction, Arconic’s shares will no longer trade on the New York Stock Exchange, and Arconic will become a private company.

Read more at Business Wire