No rormon, Groves paid $US700 million for the centres. You can check that for yourself here:
http://www.theaustralian.news.com.au/story/0,25197,23333003-23634,00.html
The MS transaction values 100% of the US business at US$700 million. You can check that on yesterday's announcement. So no loss there whatsoever. The ms deal is a good one for abs. They have reduced dept by ~40-50% and still have the UK voucher business to sell at $100m. Also, NZ and Aus land sales should reduce the debt further.
They have an option to buy the US centres back from MS if they want. So if the US business does ok, they can still expand into that market.
Look at what a new CEO did for DOW. I believe new management in abs would do the same for abs.
ABS
a.b.c. learning centres limited
