Apollo Global Management, Inc. (NYSE:APO) entered into a definitive agreement to acquire 49% stake in Fab 34, Intel?s leading-edge fabrication facility from Intel Ireland Limited for $11.1 billion on June 4, 2024. In addition to the Closing Payment, the consideration will include Deferred Payments by disbursement from the Escrow Account and the amount shall not exceed $100,000,00. The remaining 51% ownership interest in JV Company will remain under the ownership of Intel Ireland. The closing is subject to limited customary conditions. The parties expect to close the transactions in the second quarter of 2024. The Purchase and Sale Agreement provides certain termination rights for both Intel Ireland and Co-Investor, including if the closing does not occur on or before August 31, 2024 and Intel Ireland or Co-Investor validly terminates the Purchase and Sale Agreement.

Goldman Sachs & Co. LLC acted as financial advisor, Aryan Moniri, Christopher J. Bors, Nike O. Opadiran of Skadden, Arps, Slate, Meagher & Flom LLP, and Eversheds Sutherland acted as legal advisor for Intel Ireland Limited. Ravi Purohit, Ross Fieldston, Gregory Ezring, Robert Zochowski and Luke Jennings, M&A counsel Michael Spirtos and Lukas Richards, counsel Nadeem Waeen, David Levine, Nathan Mitchell, Elizabeth Scherer, partners Brad Okun, Sohail Itani, partners Claudine Meredith-Goujon, Bonnie Chen; John Carlin; and Jake Glazeski of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for Apollo Global Management, Inc. Gary Boss, Jeff Greenberg, Chirag Dedania, Tad Freese, Bora Bozkurt, Adam Kestenbaum, Aryeh Zuber, Damara Chambers, Andrew Galdes and Pia Naib of Latham & Watkins LLP is serving as legal counsel to Apollo co-investors. J.P. Morgan Securities, Inc. acted as financial advisor to Intel Ireland Limited.