Intel has agreed to buy back the 49% equity interest in the Fab 34 joint venture (JV) in Ireland that is held by Apollo-managed funds and affiliates, in a transaction valued at $14.2bn. The deal will return full ownership to Intel of the high-volume semiconductor fabrication facility and is structured as a repurchase of the JV stake established earlier this year. Intel plans to fund the repurchase with a mix of existing cash and around $6.5bn in new debt issuance. The company expects the transaction to ...