AYALA CORP TO TAKE OVER NATIONAL TEACHERS COLLEGE

AYALA Corp., through its education services arm, is buying a 96 percent stake in National Teachers College (NTC) in line with its goal to expand its business portfolio.

In a disclosure on Thursday, Ayala Corp. said its whollyowned subsidiary AC Education, Inc. inked a share purchase agreement with shareholders of NTC on February 7 after the Ayala Group won the bidding of the tender process conducted for the sale of the NTC shares.

- closed in the statement.

“We are very grateful that several groups had expressed their sincere interest in continuing the legacy of NTC as established by our fore- bears,” NTC Chairman Rolando de Castro said.

“We look forward to working with AC Education in this transition process and in moving NTC closer to becoming the world-class institution it was intended to be. We are honored to pass on the torch to AC Education, which we - mitted to building on the ideals upon which NTC was founded,” he added.

Founded in 1928, NTC is the offered general education leading to a Bachelor of Science in Education. It is located along Nepomuceno Street in Quiapo, Manila.

“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 long and successful track record in producing quality educators who go on to teach in both public and private schools,” Ayala Corp. Chief Zobel de Ayala said.

AC Education CEO Alfredo Ayala added: “We are committed to investing in further quality at NTC, and building on its traditions of excellence and inclusiveness.”

The acquisition remains to be subject to regulatory approvals.

- nancial advisor for the acquisition.

AC Education was founded 2012 with a vision to deliver quality education at an affordable price. In basic education, the company Education Center) Schools, the largest standalone institution in the country with presence in 23 areas nationwide and with approximately 16,000 students.

In higher education, it invested in the University of Nueva Caceres in Naga City, which has approximately 8,000 students.

Recently, AC Education part Mapua University, Malayan Colleges Laguna, and Malayan Col merger, with the latter as the surviving entity.