The deal has soured significantly since it was first announced. Proceeds will give a A$485M debt reduction instead of A$600M. There will still be significant debt at $1.35B.
The EPS guide of (19)-(17) for FY08 is ambiguous because the loss is put down to one off losses presumably to do with the restructure however they then go on to list other factors negatively impacting opertaing performance.
Sure the business has been derisked to some extent but at significant one off costs and a major loss of revenue and potential growth.
ABS
a.b.c. learning centres limited
