Ansell (ASX:ANN) has closed the sale of its sexual wellness business for US$600 million.
The global leader in protective solutions expects its Brazilian condom business, Blowtex, will need additional time to conclude with US$10 million escrowed until the end of September.
Ansell expects to realise net cash after-tax profits of US$529 million recorded on its FY18 accounts, with its net profit after tax around US$365 million.
At the time same time the company also restructured its Indian JV, which will result in a net payment of US$1 million after it sold the JV’s condom and Kama Sutra brands.
Ansell also announced a $265 million share-buy back program.
Shares in Ansell (ASX:ANN) last traded about 0.5 per cent lower to $21.71.