THE receiver of ABC Learning Centres has sold the childcare group’s UK arm for an undisclosed sum.
ABC’s UK business, called Busy Bees Group, was purchased by Singapore-based company Knowledge Universe Education, Chris Honey of McGrathNicol said today. 
Mr Honey said Busy Bees Group, which is the UK’s largest children’s nursery group, will continue to be operated by its existing senior management.
“As receivers, we are very happy with the value realised for this business, and are pleased to have sold it to an internationally respected childcare provider,” he said.
He said Busy Bees Group was in a similar situation to ABC’s business in New Zealand, as it was not itself in receivership and had continued to trade profitably.
Mr Honey said the sale of the ABC in New Zealand was progressing well and that strong interest from a number of bidders had led to an extension of the sale timetable.
Mr Honey said no decision had been made yet on a timetable for the sale of the Australian business.
“The ABC Learning centres in Australia continue to trade well, with the focus remaining firmly on providing high quality childcare, driven by the local ABC centre staff at a community level,” Mr Honey said.
ABC, Australia’s largest childcare centre operator, went into administration and receivership in November 2008, owing more than $1 billion.
Source www.news.com.au
All the latest NEWS from Perth 
$3billion proposal to upgrade Perth Airport
Posted in Local News, tagged $1 billion, $1.4 billion, $525 million, 10 years., 115 million, 2011, 2019, airport, airport’s, Asia-Pacific, August 10, best, Brad Geatches, budget, building, capital, car, chief executive, committed, departing, development, domestic terminal, escalators, existing, facilities, forward, funding, government sources, hotels, included, integrated, interfacing, international, intersection, Local News, major, master plan, multi-storey carparks., network, opened, outlines, parks, passengers, perth, Perth Airport, phased, plans, private, program, projected, public, public comment, region, road, seven, site, Terminal, Terminal WA, tonkin highway, upgrade, upgrades, Upstairs, works, years. on May 18, 2009| Leave a Comment »
Perth Airport is set for a $3 billion upgrade over the next 10 years to transform it into a transportation showpiece.
The capital works program, from private and government sources, is the biggest ever for the airport.
In line there is a $1 billion in terminal facilities, $525 million for road upgrades and $1.4 billion in hotels and multi-storey carparks.
Terminal WA is set to be opened in 2011, and an integrated international and domestic terminal on the site of the existing international terminal to be phased in over the next seven years.
Perth Airport chief executive Brad Geatches said yesterday that the airport would become one of the best in the Asia-Pacific region.
The master plan, which is available for public comment until August 10, outlines the airport’s plans through to 2019 and brings development forward 10 years.
The terminal upgrades, a new ring road and improvements to key intersections will be started over the next 12 months.
The escalators will be on the left of the building and will take departing passengers and the public upstairs. The existing facilities will be for arrivals only.
Major funding has also been committed to upgrade the road network around the airport.
The Budget included more than $115 million in projected major intersection works along the Tonkin Highway interfacing with Perth Airport.
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