Ayala Corp's NTC, Yuchengco Group's APEC Schools announce plans to merge

ABS-CBN News

Posted at Dec 05 2022 06:30 PM

Ayala Corp's NTC, Yuchengco Group's APEC Schools announce plans to merge

MANILA - The education units of the Ayala and Yuchengco conglomerates will be merging, Ayala Corp announced on Monday. 

The Ayala-led National Teachers College (NTC) and the Yuchengco-owned Affordable Private Education Center (APEC) Schools said their boards have approved a planned merger, with NTC emerging as the sole surviving entity. 

In a disclosure to the stock exchange, Ayala Corp said the merger “will result in the creation of an education powerhouse of over 24,000 students in K-12, College and Graduate School.” 

NTC and APEC Schools are owned by iPeople, inc, which is in turn owned by the Yunchengcos’ House of Investments and Ayala Corp. 

The two education companies together have approximately 60,000 students. Among the schools they operate are Mapúa University, Malayan Colleges, and the University of Nueva Caceres.

Fred Ayala, Chairman of both NTC and APEC said the merger will allow them to better provide “innovative education at affordable prices.” 

“Our high school students will benefit from the combination of NTC’s national reputation and 94 year track record of excellence in teaching, with APEC’s progressive teaching methods and focus on being educators of the digital future,” Ayala said. 

The deal will still need the approval of the Commission on Higher Education, Department of Education, and the Securities and Exchange Commission, Ayala Corp said. 

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