FEU ACQUIRES 34% OF NUEVA ECIJA-BASED SCHOOL

Far Eastern University Inc. (FEU) has sealed a deal to buy a 34-percent stake in Good Samaritan Colleges Inc. (GSC), an educational institution in Cabanatuan City, Nueva Ecija.

The buy-in deal, valued at P70 million, would “allow both schools to partner together in expanding the educational offerings and operations of GSC in Cabanatuan,” FEU said in a disclosure to the Philippine Stock Exchange on Friday.

The equity investment in GSC has been approved by FEU’s board of trustees, allowing the parties to sign the investment agreement on Aug. 25.

Established in 1973, GSC offers junior and senior high school, tertiary and graduate school education. It is the only school in Nueva Ecija with its own hospital centers, operated in partnership with the Mount Grace group.

FEU was founded in 1928 as a private nonsectarian institution of learning. Led by the Montinola family, the education network is currently valued by the stock market at about P12.8 billion.

The company operates Far Eastern University in Manila. It is also the majority shareholder of East Asia Computer Center, Inc. (EACCI), FEU Alabang, Inc., Far Eastern College Silang, Inc. (FECSI), FEU High School, Inc. and Roosevelt College, Inc.

EACCI is doing business under the names FEU Institute of Technology and FEU Diliman, while FECSI is also known as FEU Cavite.

FEU also owns 51 percent of Edustria, Inc., a newly incorporated senior high school in Batangas, established and operated in partnership with Technological Institute of the Philippines, Inc., which owns the remaining 49 percent.