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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Morgan Stanley Private Equity to invest AUS$750m in Learning Care Group06/03/2008. Source: AltAssets. 
Morgan Stanley Private Equity has agreed to acquire a 60 per cent stake in US childcare business Learning Care Group, from Australian parent company A.B.C. Learning Centres, for AUS$750m ($702m). A.B.C. will retain a 40 per cent stake. Learning Care Group has 1,150 corporate and franchise schools across the US, including Childtime Learning Centers, Tutor Time Child Care/Learning Centers, The Children's Courtyard, La Petite Academy and Montessori Unlimited.
The deal values Learning Care Group at $775m and excludes an additional deferred payment of $30m.
Steve Trevor, co-head of Morgan Stanley Private Equity, said, 'Learning Care Group is well positioned to take advantage of the excellent long-term growth prospects in the education sector and we are very pleased to work with its strong management team in that effort. We also look forward to partnering with ABC's Australian-based executive team on this opportunity.'
Morgan Stanley Private Equity is part of Morgan Stanley Investment Management's Merchant Banking Division. In December of last year, the firm acquired US grocery chain Tops Markets, for $310m.
Copyright © 2008 AltAssets
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