Istanbul (aa): German pharmaceutical and agricultural group Bayer announced that it will generate approximately $3.43 billion by selling a minority stake in its long-acting reversible contraceptives business to funds managed by US asset manager Apollo Global Management.

According to Anadolu Agency, Apollo-managed funds will acquire a minority, non-controlling stake in a newly established entity holding the business. Bayer will maintain majority ownership and full operational control over the contraceptives business. This business segment will remain an integral part of Bayer Pharmaceuticals' core operations and continue to be fully consolidated in Bayer's financial statements.

Bayer plans to use the proceeds from the transaction to improve its capital structure and strengthen its balance sheet. This move comes in response to upcoming bond maturities and liquidity requirements related to litigation. The transaction is anticipated to be finalized in the third quarter of 2026, pending antitrust approval and other customary closing conditions.

The financing initiative is part of Bayer's ongoing strategy to reduce debt and manage liabilities associated with litigation concerning its glyphosate-based Roundup weedkiller in the US.