Bayer gets €3 billion in Apollo deal for LARC stake

Apollo Global Management Inc

Apollo Global Management Inc

APO

0.00

July 10 (Reuters) - Drugmaker Bayer BAYGn.DE has received €3 billion ($3.4 billion) in equity capital to improve capital structure after signing an agreement with global asset management firm Apollo APO.N, the German company said on Friday.

Bayer said that Apollo will gain a minority, non-controlling stake in its LARC business as part of the deal, which is expected to close in the third quarter.

($1 = 0.8741 euros)


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