Business Services Industry
Finsia sales result imminent.
Australasian Business Intelligence, June, 2007
Byline: Victoria Young
Jun 20, 2007 (Independent Financial Adviser - ABIX via COMTEX) -- The Financial Services Institute of Australasia (Finsia) is expected to announce on 18 June 2007 whether the sale of Finsia Education will proceed. Its members have been asked to approve the sale of Finsia Education for $A36 million to the US-based Kaplan, with the ballot closing on 14 June 2007. Giles Gunesekera, a Finsia member, says he expects that the vote will be strongly against the sale, based on the feedback he has had from fellow members. Their decision was made even more complicated when Fairfax Media announced it was willing to pay $A42 million for Finsia Education, but the Finsia board rejected the bid on the grounds that it was too conditional.
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