Bayer teams up with Apollo and raises EUR3bn
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The German chemicals and pharmaceuticals giant has sold a minority stake in its contraceptives business (LARC) to US fund Apollo, aiming to address major debt maturities and legal disputes. Nicolas Thomas Published on 07/10/2026 at 05:28 am EDT On Friday the Leverkusen-based group said that it had reached a strategic agreement with global asset manager Apollo, enabling it to raise €3bn in equity. To formalize the partnership, Bayer will place its LARC division (long-acting reversible contraceptives) into a new legal entity. Funds managed by Apollo will inject the €3bn in exchange for a non-controlling minority stake. The deal is painless for the German group, as it retains a majority stake, keeps full operational control of the segment and will continue to fully consolidate this key business in its consolidated accounts. For Bayer CFO Judith Hartmann, the transaction "improves our financial flexibility at a time when we must manage higher liquidity needs this year linked to bond maturities and legal proceedings".