Total likely to sell condom, glove unit

Total SA, Europe's third-largest oil company, may put its glove and condom-making unit up for sale to exit businesses that aren't related to energy, three people familiar with the matter said.

Total hired Societe Generale SA to arrange the sale, which may start as soon as next month, said the people, who declined to be identified because the transaction is private. Paris-based Total expects bids of about 500 million euros ($773 million).

The company failed three years ago to sell the unit, which is part of the Hutchinson rubber-processing division, after offers fell short of price expectations, the people said. Now Total wants to seek bids again as Chief Executive Officer Christophe de Margerie focuses on divisions that will profit from oil trading close to $120 a barrel.