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WA-70029

Apollo / Bayer Asset ManagementWA-70029

View on ACCC

Processing timeline

30

days

Filed

11 July 2026

Notification waiver determination published

Decision

10 Aug 2026Notification waiver determination published
Type
Waiver
Outcome
Approved
Stage
Waiver application
Status
Assessment completed

Parties

Acquirer(s)

Apollo Capital Management, L.P. US-DE - 4293091, AP Emerald (Luxembourg) S.à r.l. RCS - B307795

Target(s) or Vendor(s)

Bayer Global Investments B.V. KVK - 51490986, Bayer Asset Management B.V. KVK - 42012880

Other parties

Bayer Nordic SE Finnish Patent and Registration Office - 2430580-2, Apollo Global Management, Inc. CIK 0001858681, Bayer Oy Finnish Patent and Registration Office - 1703777-4, Bayer Aktiengesellschaft HRB - 48248

Summary

AP Emerald (Luxembourg) S.à r.l., advised by Apollo Capital Management, L.P., acquired a minority share in Bayer Asset Management B.V. from Bayer Global Investments B.V. This share sale involves global life science company Bayer, whose subsidiary Bayer Oy produces long-acting reversible contraceptives.

Acquisition details

The proposed transaction involves the acquisition by AP Emerald (Luxembourg) S.à r.l. of a minority share of Bayer Asset Management B.V. from Bayer Global Investments B.V. (the Acquisition ). Bayer Global Investments B.V. will retain a majority share in Bayer Asset Management B.V. At closing of the Acquisition, Bayer Asset Management B.V. will indirectly hold 100% of the shares in Bayer Oy. AP Emerald (Luxembourg) S.à r.l. is a special purpose vehicle which is indirectly managed and advised by affiliates of Apollo Capital Management, L.P., a wholly-owned indirect subsidiary of Apollo Global Management, Inc. (together with its indirect subsidiaries managing the investment fund, Apollo ). Apollo is a global alternative asset manager headquartered in New York. Bayer Asset Management B.V. is a newly incorporated entity wholly owned by Bayer Global Investments B.V. Bayer Global Investments B.V. is ultimately controlled by Bayer Aktiengesellschaft (together with its subsidiaries, Bayer ). Bayer is a globally active life science company with its headquarters in Leverkusen, Germany. Bayer conducts its business in three divisions: pharmaceuticals, consumer health and crop science. Bayer Oy, which is headquartered in Turku, Finland, produces long-acting reversible contraceptives.

Industry

Broad:Professional & Business Services

Decisions and key events

10 Aug 2026Notification waiver determination publishedAttachmentPDF170.9 KB

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