Condom and sexual health company Lifestyles Healthcare is planning to sell its overseas operations for around $500 million, according to an unnamed source. The company, based in China, are weighing up the possibility of pitching for the disposal of its non-domestic sales. Citic Capital, which owns a 40% stake in the firm, has reportedly asked shareholders to start thinking of pitches for the sale. The firm will, according to speculation, keep its operations in China after the sale.
But the considerations are preliminary: the owners could still decide to keep the business. When contacted, they declined to comment.
Lifestyles Healthcare was founded by Eric Ansell in 1905 in Richmond, in Australia. In its current form, the company was created in 2017 when Citic…