Ansell Limited says it will sell its Sexual Wellness business for US$600 million.
The condom manufacturer signed an agreement to sell its Sexual Wellness business to a collective Buyer Consortium, including Humanwell Healthcare Group and CITIC Capital China Partners.
At the same time, Ansell also announced a new market share buy-back program for up to 10% of the Company’s issued capital.
The sale of the Sexual Wellness business is estimated to generate US$529 million.
Subject to approvals, the transaction is expected to be completed by September 2017.
Shares in Ansell Limited (ASX:ANN) last traded 2.61% higher at $24.77.