(Reuters) -U.S.-based asset administration firm Apollo World Administration has supplied to make an funding of as a lot as $5 billion in Intel, Bloomberg Information reported on Sunday.
Apollo has indicated in latest days it might be prepared to make an equity-like funding of billions of {dollars} in Intel, the report stated, citing an individual acquainted with the matter.
The information comes at a second of weak spot for Intel, which was as soon as probably the most helpful chipmaker on the earth, however whose shares have misplaced almost 60% of their worth for the reason that begin of the yr.
Intel executives have been weighing Apollo’s proposal, Bloomberg reported, including that talks concerning the deal are in a preliminary stage and haven’t been finalized.
Bloomberg stated that the dimensions of the potential funding in Intel might change and discussions concerning a deal might additionally fall by.
Apollo and Intel didn’t instantly reply to a Reuters’ request for remark.
Earlier this yr, Apollo stated it should purchase a 49% fairness curiosity in a three way partnership associated to Intel’s new manufacturing facility in Eire for $11 billion.
The event for an funding in Intel comes quickly after Qualcomm has in latest days approached Intel to discover a possible acquisition of the troubled chipmaker in what may very well be a transformational deal within the sector however faces many hurdles.
Qualcomm CEO Cristiano Amon is personally concerned within the negotiations to accumulate five-decade-old Intel, which at current is an early stage, Reuters reported on Friday citing a supply who was briefed on the matter.
Beforehand, Qualcomm has additionally explored buying items of Intel’s chip design enterprise.
(Reporting by Mrinmay Dey in Bengaluru; Enhancing by Lisa Shumaker)
