Time to sell Ansell
Recently, the group has executed a binding agreement for the sale of its Sexual Wellness (SW) business for US$600m to Humanwell Healthcare and CITIC Capital China Partners (Buyer Consortium), and the transaction is expected to get completed by the end of September 2017. Net after-tax cash proceeds to Ansell are expected to be approximately US$529m and the company also expects to realize a net profit after tax in the order of US$365m in FY18. The commenced new share buy-back program for up to 10% of the company’s issued capital or approximately 14.75m shares will run for next 12 months. The stock has moved up 18.5% over the past one year, while it was down 7% for the last three months as on July 13, 2017.
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