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Ayala, Yuchengco merge education units in P15.5-B deal

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ABS-CBN News

MANILA - The Ayala and Yuchengco groups announced on Monday that they are merging their education units in a deal worth P15.5 billion. In a joint statement, the Yuchengcos&#x27; House of Investments education holding company iPeople, and Ayala Corporation&#x27;s AC Education signed a deal to merge, with iPeople remaining as the surviving entity. House of Investments will control 51.3 percent of the merged entity, with Ayala getting 33.5 percent. &quot;The merger shall be subject to the approval of the stockholders of AC Education and iPeople, and securing the necessary regulatory approvals,&quot; the companies said. The merger will bring together Mapua University and and its subsidiaries Malayan Colleges, Laguna; Malayan Colleges Mindanao; Malayan Science High School in Manila; as well as the University of Nueva Caceres in Bicol; National Teachers College; and APEC Schools.

The Ayala and Yuchengco groups announced on Monday that they are merging their education units in a deal worth P15.5 billion.

The Ayala and Yuchengco groups announced on Monday that they are merging their education units in a deal worth P15.5 billion.