LISTED educational institution Far Eastern University, Inc. (FEU) is acquiring a majority stake in Higher Academia, Inc. (HAI), an educational provider based in San Fernando, Pampanga, under an P11.43-million deal.
In a regulatory filing on Wednesday, FEU said its board of trustees approved on June 17 an additional equity investment of P11.43 million, which will raise its ownership in HAI to 51%.
The investment will allow FEU to acquire an additional 114,286 common shares in HAI, increasing its total holdings to 2.91 million shares.
FEU said it has not yet signed a definitive subscription agreement pending the finalization of the transaction.
HAI currently offers secondary and tertiary education in San Fernando.
HAI is a 50-50 joint venture between FEU and Unilab Education.
In October 2023, FEU and Unilab announced a P600-million investment in HAI to acquire the assets of Colegio de Sebastian-Pampanga, Inc.
“With HAI’s acquisition of a secondary and tertiary school in San Fernando, Pampanga, the group looks at serving this geographical market, particularly in terms of access to quality education offerings,” FEU said.
Aside from HAI, FEU operates Far Eastern University in Manila and holds majority stakes in East Asia Computer Center, Inc., FEU Alabang, Inc., Far Eastern College Silang, Inc., FEU High School, Inc., and Roosevelt College, Inc.
FEU shares rose by 6.06% or P48.50 to P848.50 each on Wednesday. — Revin Mikhael D. Ochave
