ABS a.b.c. learning centres limited

report mrpeaman

  1. 1,532 Posts.
    ABC Learning To Sell Part Of US Ops To Morgan Stanley -Source
    05/03/2008 2:33PM

    MELBOURNE (Dow Jones)--Childcare operator ABC Learning Centres Ltd. (ABS.AU) will sell part of its U.S. operations to Morgan Stanley's private equity arm, a person familiar with the situation told Dow Jones Newswires Wednesday.

    The plan involves offloading 60% of its U.S. business, valuing the childcare assets around A$775 million, the person said.

    Shares in ABC Learning have been suspended from trading since last week while it continues talks on a partial sale.

    Its shares plunged 42% last Tuesday after its first half results missed analysts' expectations, prompting concern over debt levels and triggering margin calls on directors' shares.


    -By Susan Murdoch, Dow Jones Newswires; 61-3-9671-4393 ; [email protected]


    (END) Dow Jones Newswires

    March 04, 2008 22:33 ET (03:33 GMT)


 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.