Apollo to offer multibillion-dollar investment in Intel

Intel agreed in June to sell a stake in a joint venture that controls a plant in Ireland for $11bn (€9.9bn) to Apollo

Intel has been working on an expensive plan to remake itself and bring in new products, technology and outside customers.

Apollo Global Management has offered to make a multibillion-dollar investment in Intel, according to people familiar with the matter, in a move that would be a vote of confidence in the chipmaker’s turnaround strategy.

The alternative asset manager has indicated in recent days it would be willing to make an equity-like investment of as much as $5 billion in Intel, said one of the people, who asked not to be identified discussing confidential information. Intel executives have been weighing Apollo’s proposal, the people said.