the ferret comment

08:10, Thursday, 2 February 2006

Sydney - Thursday - February 2: (RWE Australian Business News) -
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Child care is a growth industry so we suppose it was only a
matter of time before MACQUARIE BANK (MBL) made its move for a bigger
slice of the action.
CHILDS FAMILY KINDERGARTENS (CFK) last night revealed that the
bank would become a "strategic investor", forking out $10.9 million for
a 30 per cent stake.
"This is a significant turning point in the company's
development considering that we have been listed on the ASX for less
than 12 months," Childs says.
"Macquarie's investment will facilitate CFK's goal to be a
leader in the listed childcare sector in Australia by enabling a faster
pace of portfolio growth."
Macquarie will pay a maximum of 38c a share for Childs, which
compares with 42.5c before the trading halt.
Childs shareholders will be hoping for some improvement when
trdaing resumes today.
So will Macquarie shareholders, of course, after yesterday's
$4.93 dive to $63.45 after the less