MANILA - Ayala Corp said Thursday it acquired the National Teachers College, expanding its education business.

AC Education bought 96 percent of NTC's shares, adding 10,000 to its student population, which will stand at 34,000 after the acquisition, Ayala Corp told the stock exchange.

Ayala Corp is also in talks with the Yuchengco Group, which operates Mapua University, for a potential merger of their education units.

"The Ayala Group is committed to investing in the education sector because we recognize that it is critical to building our nation," said Ayala Corp chairman Jaime Augusto Zobel de Ayala.

• Yuchengco, Ayala education units in talks for merger

Excluding NTC, AC Education has 16,000 students in 23 sites in Metro Manila, Cavite, Rizal and Batangas. It also has a stake in the University of Nueva Caceres in Naga City.

On Wednesday, Ayala Corp said its unit, AC Industrials, was selected as a "preferred bidder" to take over the distribution of Kia cars in the Philippines.

• Ayala Corp sets sights on Kia distributorship in Philippines