Ansell sells Sexual Wellness business

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.