Bayer secures €3 billion from Apollo to fund contraceptives unit

German pharmaceutical group Bayer announced a €3 billion equity investment from U.S. asset manager Apollo Global Management. Apollo will acquire a minority, non‑controlling stake in a newly created company that will hold Bayer’s long‑acting reversible contraceptives (LARC) business, while Bayer retains majority ownership and full operational control. The deal, expected to close in the third quarter of 2026 pending antitrust approval, is described as a “strategic financing solution” to strengthen Bayer’s balance sheet amid higher liquidity needs caused by bond maturities and ongoing litigation.

The transaction follows Bayer’s recent $7.25 billion settlement of Roundup glyphosate lawsuits and a favorable U.S. Supreme Court ruling that limits further claims. By securing the capital, Bayer aims to preserve cash for these obligations while keeping its contraceptives operations, including the major production site in Turku, Finland, unchanged. The agreement was advised by banks including BofA Securities and Deutsche Bank, with legal counsel from Linklaters and Latham & Watkins.

Bayer’s CFO Judith Hartmann said the infusion improves financial flexibility without relinquishing control of a key pharmaceutical segment that generated about €1.4 billion in revenue in 2025.