THE Ayala Group is boosting its education portfolio with the acquisition of the National Teachers College (NTC), one of the leading teacher education institutions in the country.
Ayala Corporation unit AC Education Inc. (AEI) signed on Wednesday, February 7, a share purchase agreement for the acquisition of around 96 percent of NTC’s shares, the company said in a statement.
“AEI is excited to add NTC to its portfolio because of NTC’s long track record of commitment to excellence in teaching, as well as its emphasis on both growth and inclusion,” Ayala told the Philippine Stock Exchange on Friday, February 9.
The company noted that NTC has recently ventured into growth areas such as Accountancy & Business, Information Technology and Senior High School.
NTC, located on Nepomuceno Street, Quiapo, Manila, was founded in 1928. It is the first school in the country to offer General Education leading to a Bachelor of Science in Education.
The school currently has over 3,500 Education students in both college and graduate programs.
AEI, the wholly-owned education arm of Ayala Corporation, was the winning bidder of the tender process conducted for the sale of NTC shares.
It operates a chain of private high schools in the country, the APEC (Affordable Private Education Center) Schools, with around 16,000 students in 23 sites in Metro Manila, Cavite, Rizal and Batangas.
AEI has also invested in the University of Nueva Caceres (UNC) located in Naga City, with approximately 8,000 students.
NTC, along with APEC Schools and UNC, would be part of a potential merger with iPeople, listed education arm of House of Investments Inc. and the parent of Mapua University, Malayan Colleges Laguna and Malayan Colleges Mindanao. (MVI/SunStar Philippines)