Summary by Moomoo AI
Intel has successfully completed the previously announced sale of a 49% ownership stake in its Irish Fab 34 facility to AP Grange Holdings, LLC, an Apollo Global Management-affiliated entity, for approximately $11 billion. The transaction closed on June 12, 2024, following satisfaction of customary closing conditions.The deal involves Grange Newco LLC, a Cayman Islands limited liability company formed specifically for Intel's leading-edge fabrication facility in Leixlip, Ireland. The facility is designed for manufacturing wafers using Intel 4 and Intel 3 process technologies. Intel Ireland retains majority control with a 51% ownership stake.Concurrent with the closing, Intel Ireland and AP Grange Holdings entered into an amended and restated limited liability company agreement for the joint venture, as previously outlined in Intel's Form 8-K dated June 4, 2024.
