Troubled education provider Vocation will sell two of its businesses for $15 million as it looks to pay down debt and get itself back on track after a massive half year loss.
Under the deal, Vocation will sell its Australian School of Management and Australian College of Applied Education subsidiaries to Careers Australia Group.
The company said the proceeds of the sale would be used to pay down debt and improve its capital structure after problems with two of its Victorian businesses saw it slump to a $273 million first half loss.
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