Ansell completes sale of condom business

Ansell has completed the sale of most of its condom business, with some conditions related to the Brazilian unit set to be achieved by September.

Medical and other protective gloves maker Ansell says it has completed the $US600 million ($A754 million) sale of its sexual wellness business, other than the Brazilian condom operations, to a Chinese consortium.

Ansell on Monday said that because additional time was needed to conclude the sale of the Blowtex business because of some pre-completion conditions, $US10 million of the sale proceeds would remain in escrow until the conditions are satisfied.

The company expects to net after-tax cash proceeds of $US529 million and realise a post-tax profit of $US365 million, which will be recorded in the FY18 accounts.