Ayala acquires control of top Bicol university

MANILA, Philippines - Ayala Education Inc., the academic investment arm of Ayala Corp., has acquired a 60 percent stake in University of Nueva Caceres (UNC) in Camarines Sur, one of the leading universities in the Bicol region.

The acquisition, valued at P450 million, will result in Ayala holding majority of UNC’s board seats.

In addition, UNC appointed Ayala Education CEO Alfredo Imperial Ayala as its new president.

 “We are very pleased to have been invited to partner with UNC, given its 67 years of success, leading position in Bicol and vibrant school spirit. UNC will be Ayala Education’s flagship university, and we are committed to working closely with all of UNC’s stakeholders to build upon its tradition of excellence that have served it so well,” Ayala said.

Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala, said the conglomerate is excited to partner with UNC.

“We are excited to join forces with UNC.  Education is an important priority for Ayala. There is strong global demand for Filipino talent and our vision is to deliver high quality, affordable education that can significantly enhance the employability of graduates, through partnerships with regional leaders such as UNC,” he said.

The conglomerate’s latest investment in education is a continuation of its foray in the sector in 2012 through 100 percent-owned Ayala Education.

Ayala Education’s vision is to deliver affordable and high quality education at the high school and college levels in order to equip students with real world skills through co-designing programs with prospective employers, and leveraging Ayala Education’s extensive experience in services training, the group said.

The group has recognized the strong demand for Filipino talent from the IT-BPO and other service industries, such as banking, telecom, retail and tourism.

Its portfolio in education also includes pioneering senior high school since 2013 through its LINC (Learning with Industry Collaboration) Academy’s partnerships at Emilio Aguinaldo College and Arellano University.

Furthermore, Ayala Education formed a majority-owned joint venture, Affordable Private Education Center (APEC), with Pearson, the world’s leading learning company, to build a chain of low-cost secondary schools that will provide quality education at affordable annual school fees.

Since it started in 2013, APEC has grown to a total 23 schools, with 3,400 students across Metro Manila, Rizal, Cavite and Batangas, offering Grades 7 and 8 for less than P70 a day, inclusive of use of books and computers, according to the company.

On the other hand, UNC is recognized as one of the leading universities in the Bicol region, and has approximately 7,000 students.

Its programs, include arts and sciences, business and accountancy, computer studies, criminal justice, education, engineering and architecture, graduate studies, law, nursing and basic education (K-10).

For his part, UNC chairman Felicito Payumo welcomed Ayala’s entry into the university.

 “We are delighted that Ayala Education is investing in UNC because we believe that it will help us to further enhance the quality of our education and the employability of our graduates, through industry and technology driven innovations. We welcome Ayala Education as a partner who can strengthen UNC’s leading role in making good education accessible to Bicolanos as envisioned by its founder, former Secretary of Finance, Dr. Jaime Hernandez Sr., and as nurtured by his children, Dr. Dolores H. Sison (past president), Erlinda H. Ravanera, Jaime J. Hernandez Jr. and Jesus J. Hernandez, and their families,” Payumo said.