Phinma hikes stake in SWU to 67.45%

MANILA — Phinma Corporation is increasing its stake in Southwestern University (SWU).

In a disclosure to the Philippine Stock Exchange, conglomerate said it is acquiring another 3,214 shares in SWU, equivalent to a 10.62 percent stake in the Cebu-based school. The acquisition cost Phinma P114,436.22 a share, for a total consideration of P367.8 million.

The additional acquisition hikes Phinma's interest in SWU to 67.45 percent after it bought an initial 56.83 percent stake last April.

Phinma said the higher stake in SWU "will strengthen its position in the education industry," given the university's "strong education brand in the Visayas and Mindanao with a long tradition of excellence particularly in medicine and the allied health sciences."

Founded by the Aznar family, SWU’s acquisition "will help protect the legacy of the family and ensure SWU’s future by becoming a professionally run institution with the goals of improving operational efficiencies, achieving economies of scale, and further improving the quality of education," Phinma said.

The conglomerate said SWU's acquisition grows the student population of Phinma's education business by 10,000 to 47,000.

"The Cebu location likewise gives Phinma presence in one of the country’s major education centers, expanding its physical reach and influence," the company said, adding that the SWU investment marks Phinma's entry into the mid-income education market.

(Interaksyon.com)

PHOTO FROM PHINMA.EDU.PH Phinma Corporation is acquiring another 3,214 shares in Southwestern University, which is equivalent to a 10.62 percent increasing Phinma's interest in SWU to 67.45 percent after it bought an initial 56.83 percent stake last April.