Apollo to Acquire $3.4 Billion Stake in Bayer's Contraceptives Business
Asset manager Apollo Global Management is set to purchase a minority stake in Bayer AG's women's health division, focusing on its long-acting reversible contraceptives.
Apollo Global Management has agreed to acquire a minority stake in Bayer AG's contraceptives business, a deal valued at approximately $3.4 billion.
The agreement centers on Bayer's women's health division, specifically its portfolio of long-acting reversible contraceptives (LARCs). This transaction marks a significant move by the asset-management firm into the healthcare sector.
Bayer, the German pharmaceutical giant, will retain a majority stake in the business. The partnership aims to support the continued growth and innovation of the contraceptives unit. Details regarding the specific structure of the minority stake and the financial contributions were not immediately disclosed beyond the overall valuation. The deal is expected to close in the second half of the year, subject to customary closing conditions.