News: Vocation sells schools for $15M

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Vocation Limited (ASX:VET) says it will sell the Australian School of Management and The Australian College of Applied Education to Careers Australia Group for $15 million. 
 

The sale has been identified as a way to reduce debt and achieve a more sustainable capital structure during an ongoing review process the company is undergoing. 
 

The education and training company recently parted ways with its CEO and Managing Director and is subject to a number of class actions surrounding allegations of misconduct and deception regarding its Victorian Government funding.  
 

Vocation recently reported a net loss of $273 million for the first half of the 2015 financial year.