BBG: Apollo’s Kleinman expects more deals like $11bn Intel pact

BLOOMBERG reports:

Scott Kleinman said he expects Apollo Global Management Inc. to participate in more deals similar to the $11 billion joint venture it inked with Intel Corp. this week as companies look for creative ways to meet their growing capital needs.

“You’re going to see more and more of this coming,” Apollo Co-President Kleinman said in an interview with Bloomberg Television from the sidelines at the SuperReturn International conference in Berlin on Wednesday. The need for tech firms, for instance, to boost their capacity in areas such as AI means the “need for this kind of capital is insatiable.”

Apollo announced in a statement Tuesday it would buy a stake in an Intel chip-making plant in Ireland. Under the terms of the deal, the investment firm will take a 49% share of a joint venture that operates Intel’s Fab 34 as the tech firm seeks external funding for a massive expansion of its factory network…

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More here: “Apollo to pay $11 bln for 49% of Intel Ireland factory joint venture“.