03:41 AM EDT, 07/10/2026 (MT Newswires) -- Shares in Bayer (BAYN.F) rose on Friday morning after it disclosed a 3 billion-euro deal to sell a minority stake in its long-acting reversible contraceptives business to Apollo Global Management, as part of the German life science company's efforts to improve its capital structure. Under the terms, Apollo-managed funds and affiliates will acquire a minority, non-controlling stake in a newly established entity holding the contraceptives business. Bayer will retain a majority stake and operational control of the entity. The deal will not change the business' strategy, and it will continue to form part of the company's pharmaceuticals division's core business. The company's shares were up 2% in early morning trading in Frankfurt. Bayer Chief Financial Officer Judith Hartmann said the deal was "a strategic financing solution" that would boost the company's "financial flexibility" as it addresses "increased liquidity requirements this year related to bond maturities and litigation procedures." For the asset management firm, the deal reflected "the core purpose of Apollo's High Grade Capital Solutions platform - providing large, flexible, and bespoke capital to blue-chip corporations," Apollo Partner Jamshid Ehsani said. Subject to regulatory clearances, the transaction is expected to close in the third quarter.

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