FEU expands with Bataan school purchase

Far Eastern University is expanding its presence outside Metro Manila with a P156 million investment that will give the education group majority control of a school in Bataan.

The listed university has signed a memorandum of agreement to acquire a controlling interest in Bataan Peninsula Educational Institution Inc. (BPEII), the company that operates University of Nueva Caceres–Bataan.

The transaction involves two components. FEU will acquire 76.92 percent of the land where the school stands for P50 million and subscribe to 39,500 shares valued at P106 million.

Once the land is transferred to the company in exchange for additional shares, FEU’s ownership in BPEII will rise to 60.34 percent, effectively placing the institution under its control. The agreement is still subject to the completion of certain closing conditions, the university said in a disclosure.

The planned investment adds another institution to the expanding network of the Montinola family-led education group, which has been growing its footprint as enrollment recovers.

FEU currently operates campuses in Manila, Alabang and Cavite and offers 117 academic programs across various fields, including healthcare, business and artificial intelligence.

Across its campuses, the group recorded nearly 60,000 students enrolled last year, the highest level since before the pandemic disrupted the education sector.