Apollo eyes $5-B investment in Intel

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Apollo News

Eyes,$5-B,Investment

US-BASED asset management company Apollo Global Management has offered to make an investment of as much as $5 billion in Intel, Bloomberg News reported on Sunday.

Apollo has indicated in recent days it would be willing to make an equity-like investment of billions of dollars in Intel, the report said, citing a person familiar with the matter.The news comes at a moment of weakness for Intel, which was once the most valuable chipmaker in the world, but whose shares have lost nearly 60 percent of their value since the start of the year.

Intel declined to comment on the Bloomberg News report, while Apollo did not respond to a Reuters' request for comment.Earlier this year, Apollo said it will acquire a 49-percent equity in a joint venture related to Intel's new manufacturing facility in Ireland for $11 billion.

 

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