Intel to Pay $14 Billion to Buy Back Apollo Stake in Ireland Plant

Intel Corp., the chipmaker aiming to restore its manufacturing prowess, agreed to pay $14.2 billion to buy back half of a plant in Ireland that it had previously sold to Apollo Global Management.

The transaction will be financed with cash on hand and the issuance of about $6.5 billion in new debt, Intel said in a statement Wednesday. The deal is expected to add to the chipmaker’s earnings per share.