By Dave Louie M. Blas
#NewsBites: After acquiring a majority stake in Bataan Peninsula Educational Institution, Inc. (BPEII), Far Eastern University (FEU) successfully took over University of Nueva Caceres-Bataan (UNC-Bataan) through a ₱156-million deal in Dinalupihan, Bataan.
In a disclosure to the Philippine Stock Exchange, FEU stated it has completed its investment in BPEII by subscribing to 39,500 shares for ₱106 million, equivalent to a 54.78-percent equity stake, last September 28.
The University also purchased a 76.92-percent interest in the land on which UNC-Bataan operates, valued at ₱50 million.
FEU and BPEII first announced the deal following the signing of the Memorandum of Agreement last March.
UNC-Bataan is an educational institution in Bataan that offers programs ranging from preschool to undergraduate and technical-vocational education.
Last year, FEU Pampanga was launched following a 2023 joint venture between FEU and Unilab’s MGHI Holdings Inc. to secure the assets of Colegio de Sebastian-Pampanga.
The FEU Group of Schools now comprises 16 campuses and partner institutions, including FEU Alabang, Cavite, and Pampanga in the Philippines, as well as a partner institution in Brunei.
(Photo courtesy of University of Nueva Caceres - Bataan Facebook page)