Bayer AG announced on Friday that it had secured €3 billion in equity from funds managed by Apollo Global Management, Inc. as part of a deal seeking to build up its newly established long-acting reversible contraceptive (LARC) business.
The German pharmaceutical giant said that Apollo funds and affiliates will take a minority, non-controlling stake in a new entity holding the LARC business, while Bayer will hold a majority stake "and will continue to exercise complete operational control over the business."
The transaction is expected to close in the third quarter of 2026. "It enhances our financial flexibility as we manage increased liquidity requirements this year related to bond maturities and litigation procedures, while continuing to execute our long-term priorities," Bayer Chief Financial Officer Judith Hartmann commented.
https://breakingthenews.net/Article/Apollo-to-invest-euro3B-in-Bayer's-contraceptive-unit/66672544
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.