Intel Rises After Selling Stake in Irish Venture to Apollo for $11 Billion

Key TakeawaysIntel is selling a 49% stake in a joint venture that controls an Irish manufacturing facility to Apollo Global Management for $11 billion, the companies announced Tuesday.The move is the latest in Intel's "Smart Capital" plan, emphasizing outside investments to allow Intel to revamp its supply chain without putting too much pressure on its balance sheet.The Irish facility, Fab 34, has already had roughly $18 billion spent on it. Intel (INTC) has agreed to sell a 49% stake in a joint venture con ...