Bayer raises €3bn by selling a minority stake in its contraceptives division to Apollo, retaining operational control and financial flexibility.
Bayer has agreed to sell a minority stake in its long-acting reversible contraceptives (LARC) business to Apollo Global Management for €3bn ($3.4bn). The deal allows Bayer to access liquidity while maintaining full operational control over the division, which includes products like Mirena, Jaydess, and Kyleena.
The transaction is expected to close in Q3 2026 and will not alter Bayer’s strategy or core operations. The funds will help address liquidity needs tied to bond maturities and ongoing litigation, according to the company’s CFO. Bayer retains ownership of the business’s strategic direction and day-to-day management.
The agreement follows financial pressures on Bayer, including costs from litigation and market challenges. The deal is designed to strengthen the company’s capital structure without ceding control of a division deemed critical to its pharmaceutical portfolio.