Apollo’s EUR 3 billion investment in Bayer’s long-acting reversible contraceptives business

Recent work|July 17, 2026

Bayer has secured EUR 3 billion in equity capital to improve its capital structure. The company signed a respective agreement with the global asset management firm Apollo. Roschier acts as Finnish counsel to Apollo in this transaction.

Under the agreement, Apollo‑managed funds and affiliates will acquire a minority, non‑controlling stake in a newly established entity holding Bayer’s long‑acting reversible contraceptives (LARC) business. Bayer will retain a majority stake in the entity and will continue to exercise complete operational control over the business.

The transaction is expected to close in the third quarter of 2026, subject to approval by antitrust authorities and customary closing conditions.

Roschier’s core advisory team comprised Wilhelm Eklund, Pinja Liikanen, Erika Heijari, Jussi Salonen, Tommi Toivonen, Eero Nikkanen, Laila Sivonen, Taru-Tuulia Tammi, Johanna Lilja, Kaarina Lundell, and Julia Jauhiainen.