CITIC, Humanwell Healthcare to buy Ansell’s condoms biz
May 26, 2017
Medical Supplies | Richmond, Australia | Buyout
CITIC Capital China Partners and Humanwell Healthcare have agreed to buy the sexual wellness business of Ansell (ASX: ANN) for $600 million in cash. The deal includes Ansell’s condom, lubricant and devices business, plus almost all the company's manufacturing sites. As part of the deal, Ansell will buy back up to 10% of issued capital over the next year, or 14.75 million shares, for what could amount to about $265 million based on the company’s closing stock price Wednesday.