Apollo to Invest in Bayer Unit

Paul, Weiss is advising Apollo in a €3 billion ($3.4 billion) equity investment in Bayer. Under the terms of the deal, Apollo-managed funds and affiliates will obtain 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, pending regulatory approvals and customary closing conditions.

The Paul, Weiss team is led by corporate partners Joseph Glatt and Nadeem Waeen, and includes partners Mark Wlazlo and Elizabeth Scherer; restructuring & debt capital solutions partner Kyle Kimpler; and litigation partner Jessica Benvenisty.