Oct. 28 (Bloomberg) -- Michael Milken, the U.S. junk bond pioneer who has spent time in prison for corporate crimes, submitted a A$100 million ($92 million) bid for 705 childcare centers across Australia belonging to ABC Learning Centres Ltd., the Sydney-based Daily Telegraph reported, without citing anyone.

ABC Learning’s receivers, McGrathNicol & Partners, “received good interest and have compiled a shortlist of parties, each of which would make a capable and competent owner,” said spokesman Angus Trigg. He refused to comment further on the process or say how much the receivers may seek to raise from the sale, which is expected to be confirmed by year- end and completed in early 2010.

No one was available to comment at the offices of Milken’s Knowledge Universe company in Singapore when Bloomberg called before the start of business hours.

ABC Learning was seized by creditors almost a year ago with A$1.66 billion in liabilities in Australia, after a A$34 million federal government injection failed to keep the Brisbane company out of bankruptcy. Since then, non-profit groups and pension funds, including Mission Australia, Kinder Learning Centers and Archer Capital have been cited as possible bidders for ABC Learning’s viable centers.

The winning bidder would have to keep the businesses as childcare centers and maintain the current terms in employees’ contracts, according to McGrathNicol’s purchase conditions document.

To contact the reporter on this story: Nichola Saminather in Sydney at nsaminather1@bloomberg.net

Last Updated: October 27, 2009 21:16 EDT