Ayala completes National Teachers College acquisition

MANILA, Philippines — Ayala Corp., through its wholly owned education arm AC Education Inc. (AEI), has completed its acquisition of National Teachers College, a private university in Manila.

AEI assumed ownership of 96 percent of the outstanding voting shares of NTC after it won in a competitive bid process.

NTC is located in the University Belt, Manila and was founded in 1928 as the first school in the country to offer general education leading to a Bachelor of Science in Education.

Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala said the move is part of the conglomerate’s commitment to education.

“The Ayala Group is committed to investing in the education sector because we recognize that it is critical to building our nation. We believe that NTC can play an integral role in our efforts to contribute to a better education system in the Philippines, because of NTC’s long and successful track record in producing quality educators who go on to teach in both public and private schools,” Zobel said.

The company’s acquisition of NTC expands the company’s education portfolio.

AEI has been expanding its educational platform through mergers and acquisitions.

In January, AEI signed a non-binding term sheet for a potential merger with iPeople Inc., the listed holding company for the education sector of House of Investments Inc.

The potential merger includes iPeople and its significant subsidiary, Malayan Education System or Mapua University, a leading private engineering and technical university in the country, and its subsidiaries, Malayan Colleges Laguna and Malayan Colleges Mindanao

Ayala Corp. made its foray in the education sector in 2012 through AEI, which provides quality education that enables significantly improved employability for its high school and college graduates.