Following the company’s selection as the “preferred bidder for the local Kia distributorship, Ayala Corporation may soon be adding National Teachers College (NTC) to its list of acquisitions.
Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala said that they are confident that the educational institution “can play an integral role in our efforts to contribute to a better education system in the Philippines”, given its “long and successful track record in producing quality educators”.
Under wholly-owned education arm AC Education Inc., the Ayala group will be procuring a 96-percent stake in the institution, it said at a disclosure to the Philippine Stock Exchange Thursday, according to a report by Inquirer.net
Still, the acquisition is subject to closing conditions, stated in a regulatory filing submitted by Ayala Corporation’s Investor Relations head Celeste Jovenir.
It also indicated that a share purchase agreement was done on Wednesday between AC Education and NTC shareholders
NTC chair Rolando de Castro expressed gratefulness as many have shown interest in “continuing the legacy” of the college.
The officials also trust that the Ayala subsidiary will continue to uphold and commit to the founding ideals of the NTC, he added.
“In selecting the buyer who shall acquire the shares of NTC, it was important to look not only at the capability to expand the school’s horizons, but also at the alignment of values and vision for raising our Filipino youth to be excellent teachers, industry leaders, or capable and competent individuals, in whatever path they may choose”, according to de Castro.
Established in 1928, the Manila-based college may join Bicol’s University of Nueva Caceres (UNC), and APEC Schools in the list of educational institutions under AC Education.
NTC Logo from The National Teachers College Facebook Page