Ayala Corp. to buy 96% stake in National Teachers College

Conglomerate Ayala Corporation is buying a 96 percent equity stake in National Teachers College.

The acquisition is subject to certain closing conditions, including securing the necessary regulatory approvals, according to a regulatory filing submitted by Celeste Jovenir, head of Investor Relations at Ayala Corp.

“Please be informed that a share purchase agreement for the acquisition of an approximately 96 percent stake in National Teachers College (“NTC”) was executed on Feb. 7, 2018 between AC Education Inc. (“AC Education”), the wholly-owned education arm of Ayala Corporation, and the shareholders of NTC,” the filing said.

The NTC on Nepomuceno Street in Quiapo, Manila was founded in 1928 as the first school in the country to offer a course in General Education leading to a Bachelor of Science in Education. —VDS, GMA News