Ansell closes sale of sexual wellness business

Company News

by Jessica Amir

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.

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.