Apollo Global Management, KKR Finalize $3.46 Billion Capital Deal With Bayer
MT Newswires Live
Yesterday
Apollo Global Management (APO) said Wednesday that Apollo-managed funds and affiliates, along with KKR (KKR), completed a 3 billion euros ($3.46 billion) capital investment in Bayer.
Under the deal, the company said it, along with KKR, invested in a newly-formed entity holding Bayer's long-acting reversible contraceptives business.
Bayer retains a majority stake and full operational control of the business, it added.
Bayer's strategy for the long-acting reversible contraceptives business remains unchanged following the investment, the company said.
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