The listed school said it signed a memorandum of agreement to acquire a controlling stake in the institution’s operator, Bataan Peninsula Educational Institution Inc. (BPEII).
Under the agreement, FEU will purchase 76.92 percent of the land where the school operates for P50 million and subscribe to 39,500 shares worth P106 million.
The land will later be transferred in exchange for additional shares, giving FEU a 60.34 percent equity stake in BPEII once the transaction is completed.
The agreement is subject to the completion of certain closing conditions, FEU said in a disclosure.
Growing education network
The acquisition adds to the scale of the FEU group, one of the country’s largest private education networks. Enrollment across its campuses reached nearly 60,000 students last year, the highest level since before the pandemic.
The group operates campuses in Manila, Alabang and Cavite and offers 117 academic programs, including newer courses in healthcare, business and artificial intelligence aimed at emerging industries.
—Edited by Miguel R. Camus
