ABS a.b.c. learning centres limited

abc snippet from reuters

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    * A.B.C. Learning Centres Ltd , Australia's top child
    care operator, jumped as much as 40 percent after it said it had
    completed a previously announced deal to sell 60 percent of its
    U.S. business to Morgan Stanley Private Equity to cut its debt.

    A.B.C., a high profile Australian casualty of the global
    credit crisis, also said the U.S. joint venture had successfully
    raised $215 million of senior debt.

    "The debt concerns are being addressed, and obviously some
    much needed fresh cash can be applied to the domestic operations
    here," said Shaw Stockbroking dealer Jamie Spiteri, who added the
    stock had also been helped by a local media report that A.B.C.
    had received six bids for its UK business.

    The Herald Sun newspaper said in an unsourced report that
    hotels and business services group Accor was understood
    to be among the bidders.

    A.B.C. shares last traded up 36 percent at A$1.00.
 
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