Delays in Leixlip put Intel on hook for $1.1bn in damages to investment giant Apollo | Irish Independent
Key Issue: Intel's Construction Delays
Intel is facing a potential payout of up to $1.1 billion (€1 billion) in damages to Apollo Global Management due to delays in constructing its new chip manufacturing facility, Fab 34, in Leixlip, County Kildare, Ireland.
Cause of Delays
The delays are self-imposed, stemming from Intel's decision to reduce its near-term capacity needs.
Financial Impact on Intel
Intel has already recognized a $755 million charge related to these delays.
Location
The affected facility is Fab 34 in Leixlip, Co. Kildare, Ireland.
Intel has already taken a $755m charge for the self-imposed construction delays in Co Kildare
Intel could have to pay private equity giant Apollo up to $1.1bn (€1bn) in damages for missing certain construction milestones at its new Fab 34 chip manufacturing facility in Leixlip, Co Kildare.
The chip-maker said the delays are self-imposed and resulted from a decision to curtail near-term capacity requirements.
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