Ayala Education Inc., the education investment arm of Ayala Corp., said that it has acquired a 60-percent stake in University of Nueva Caceres (UNC) in Bicol for P450 million.
UNC is located in Naga, Camarines Sur, and was founded in 1948 as the first university in southern Luzon outside Manila. It is one of the leading universities in the Bicol region, and has approximately 7,000 students, with many well-recognized programs, including arts and sciences, business and accountancy, computer studies, criminal justice, education, engineering and architecture, graduate studies, law, nursing and basic education.
UNC Chairman Felicito Payumo welcomed Ayala’s investment “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,” he added.
As a result of Ayala Education’s investment, it will hold the majority of UNC’s board seats. In addition, UNC appointed Ayala Education’s chief executive Alfredo Imperial Ayala, as its 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 traditions of excellence that have served it so well,” Ayala said.
Ayala Corp. started investing in the education sector in 2012 through 100-percent owned Ayala Education, after recognizing the strong demand for Filipino talent from the IT-BPO and other service industries, such as banking, telecom, retail and tourism.
“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,” said Jaime Augusto Zobel de Ayala, Ayala Corp.’s chairman and CEO.