Economic TimesLean R·
Bayer gets €3 billion in Apollo deal
Bayer said on Friday it had secured €3 billion ($3.4 billion) in equity from Apollo-managed funds in a deal tied to its long-acting reversible contraceptives, or LARC, business, aiming to bolster its capital structure while preserving control. Apollo funds and affiliates would take a minority, non-controlling stake in a new entity holding the LARC business, while Bayer keeps a majority stake and "complete operational control." The business will remain part of the pharmaceuticals division's core…
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