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ABC still talking to Morgan Stanley over 60% US stake
By Simon Vevers,
Nursery World,
16 April 2008
ABC Learning Centres is continuing negotiations with JP Morgan Stanley over the sale of 60 per cent of its US business, despite the fact that an end-of-March deadline has long passed.
A statement from the childcare giant, whose shares nosedived in February after concerns about the extent of its debts, said the sale to Morgan Stanley would 'enable ABC to crystallise the value of its United States business' and reduce the company's debts. ABC, which had become the largest childcare company in the world under chief executive Eddie Groves, is hoping to raise around £355m from the sale in the...
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