What is the nature and structure of Apollo's €3 billion investment in Bayer's LARC business?

Apollo Fund is making a €3 billion equity investment in a newly established subsidiary of Bayer that will hold its long-acting reversible contraception (LARC) business; Apollo and its affiliated funds will acquire a minority, non-controlling stake, while Bayer retains majority ownership and full operational control over the LARC business, which remains an integral part of Bayer’s pharmaceuticals division and continues to be consolidated into Bayer’s group financial statements.

When is the transaction expected to close, and what conditions must be met?

The transaction is expected to close in the third quarter of 2026, subject to approval by antitrust authorities and fulfillment of customary closing conditions.

Bayer Secures €3 Billion Equity Investment from Apollo Fund

Jul 17, 2026

Bayer secured a €3 billion equity investment from Apollo Fund for its LARC business, granting Apollo a minority stake while retaining operational control. The deal is set to close in Q3 2026 pending regulatory approval.

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2026-07-09

Bayer Secures €3 Billion from Apollo for Contraceptives Unit

2026-07-17

Bayer Secures €3 Billion Equity Investment from Apollo Fund

Bayer Secures €3 Billion Equity Investment from Apollo Fund

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