ABS a.b.c. learning centres limited

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    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)

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