Australian-listed child care services group ABC Learning Centres willundergo a board overhaul. Provided a deal on 60% of its US assets goes ahead,Morgan Stanley will join Temasek Holdings and Lazard Asset Management as thethird major institutional investor, and these entities will demandrepresentation via directorships. Meanwhile founders Eddy Groves and Martin Kempas well as Groves's estranged spouse Le Neve Groves have been forced todivest virtually all shares and are highly likely to lose their seats. A fellowdirector, ex-Brisbane lord mayor Sallyanne Atkinson, argues the trio should stayon, and says the company is trading as normal. On 10 March 2008 its stock closed$A0.08 higher at $A1.55
ABS
a.b.c. learning centres limited
