By Robin Chan

A DEBT-RIDDEN Australian investment of Temasek Holdings has been handed a lifeline.

The Australian federal government yesterday pledged A$22 million (S$22.2 million) to ABC Learning Centres, the world's largest childcare operator, to ensure it stays open till the end of the year, Associated Press reported.

ABC was seized by lenders on Thursday after it was unable to clear nearly A$1 billion of debt. Ferrier Hodgson Group was appointed as its outside managers, while McGrathNicol was named receiver to 38 divisions of the business.

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