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ABC to sell UK nurseries

Busy Bees could be poised to buy back the UK nursery business from its Australia-based parent company ABC Learning Centres.

Last week ABC, the world's largest childcare provider, said it wasconsidering selling its UK nurseries alongside the childcare vouchercompany and property assets.

The voucher business was put up for sale earlier this year as part of amove to rescue the debt-ridden company after it plunged into a sharescrisis, which saw A$755m (360m) wiped off its value in oneday (News and Analysis, 6 March, News 13 March).

In a statement, ABC said, 'The company has previously advised it wasconsidering selling its property assets in the UK. In addition, thecompany is now considering selling the UK nurseries business and the UKproperty assets in a single transaction.

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