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Morgan Stanley Private Equity Announces Agreement to Acquire Majority Stake in Learning Care Group, Inc. as Part of Joint Venture with A.B.C. Learning Centres.

Publication: Business Wire
Publication Date: 22-APR-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Morgan Stanley Private Equity today announced that it has entered into a definitive agreement to acquire a 60 percent stake in Learning Care Group, the U.S. subsidiary of A.B.C. Learning Centres ("ABC"), in a transaction that values 100 percent of Learning Care Group at $700 million.

Learning Care Group, a leader in the early education and childcare industry, has the capacity to serve more than 166,000 children through its network of approximately 1,150 corporate and franchise schools located in 37 states across the U.S. The company is the second largest for-profit childcare provider in North America.

Steve Trevor, Co-Head of Morgan Stanley Private Equity, said, "We...

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