Apollo and KKR complete €3 billion financing for Bayer

Apollo ($APO)-managed funds and affiliates completed a €3 billion capital transaction for Bayer ($BAYN), with KKR ($KKR) participating as a significant minority investor. The financing involves an equity investment in a newly formed entity holding Bayer’s long-acting reversible contraception business. It follows the previously announced agreement rather than introducing a separate €3 billion transaction.

Bayer retains a majority interest and full operational control of the business. The structure therefore releases capital without transferring day-to-day management of the operation to the investors. For Apollo and KKR, the announcement confirms deployment through their investment platforms; for Bayer, it confirms completion of the financing. The €3 billion represents transaction proceeds, not product sales, and the arrangement is not a sale of Bayer’s wider pharmaceuticals division.

Sources:

• Apollo — transaction completion, GlobeNewswire reprint