abc snippet from reuters

* A.B.C. Learning Centres Ltd , Australia's top child
care operator, jumped as much as 40 percent after it said it had
completed a previously announced deal to sell 60 percent of its
U.S. business to Morgan Stanley Private Equity to cut its debt.

A.B.C., a high profile Australian casualty of the global
credit crisis, also said the U.S. joint venture had successfully
raised $215 million of senior debt.

"The debt concerns are being addressed, and obviously some
much needed fresh cash can be applied to the domestic operations
here," said Shaw Stockbroking dealer Jamie Spiteri, who added the
stock had also been helped by a local media report that A.B.C.
had received six bids for its UK business.

The Herald Sun newspaper said in an unsourced report that
hotels and business services group Accor was understood
to be among the bidders.

A.B.C. shares last traded up 36 percent at A$1.00.