Brookfield Infrastructure to spend up to B for 49% stake in Arizona plant (NYSE:BIP)

Justin Sullivan/Getty Images News Brookfield Infrastructure Partners (NYSE:BIP) said on Tuesday it plans to invest up to $15B to jointly fund Intel...

August 29, 2022
4:28 AM

Justin Sullivan/Getty Images News Brookfield Infrastructure Partners (NYSE:BIP) said on Tuesday it plans to invest up to $15B to jointly fund Intel's (NASDAQ:INTC) under-construction semiconductor fabrication facility in Chandler, Arizona. Brookfield Infrastructure (BIP) will own a 49% stake in Chandler expansion, while Intel (INTC) will hold a 51% stake. Brookfield (BIP) said it secured financing to fund a significant portion of its capital investment in the arrangement with Intel (INTC), and its equity portion will be phased over the duration of the construction period and is anticipated to total $500M-$750M in aggregate.

Carl Surran