Phinma takes over Southeastern Colleges for P690M
Conglomerate Phinma Corp. has expanded its education business after acquiring a majority stake in Pasay-based Southeastern Colleges, strengthening its presence in southern Metro Manila.
In a regulatory filing on Monday, the Ramon del Rosario Jr.-led firm said its education unit, Phinma Education Holdings Inc., purchased 64,834 shares, equivalent to an 84.91-percent stake in Southeastern Colleges Inc., for a total investment of P690 million under a share and asset purchase agreement.
The investment also includes additional shares intended for the acquisition of land and buildings of the school.
The transaction was completed on March 13, after all conditions for closing had been fulfilled and payment had been made, the company said.
The deal brings the Pasay-based institution into Phinma Education’s growing network of schools focused on providing affordable and accessible higher education to Filipino students.
Founded in 1946, Southeastern Colleges has now become the 12th institution of Phinma Education in the Philippines and the 14th across its regional network. This further reinforces the group’s position as the largest private higher education network in Southeast Asia in terms of enrollment.
The Pasay campus will also be integrated into the Phinma Saint Jude College network in the National Capital Region, joining campuses in Manila and Quezon City.
Phinma Education Philippines country head Happy Tan said, “With every school we bring into our network, our focus is helping more Filipino students complete their education and move forward with better opportunities.”
First in their families
Many of the students served by Phinma schools are the first in their families to attend college, she added. This underscores the group’s goal of helping uplift low-income households through education.
Through the acquisition, Phinma Education expects to strengthen its reach to around 80,000 students in southern Metro Manila and nearby provinces, such as Laguna and Cavite.
Southeastern Colleges will adopt Phinma Education’s student-focused model, which combines career-relevant programs, structured teaching methods, as well as academic and personal coaching designed to help students complete their studies and transition to meaningful careers.
Phinma Education currently serves about 178,000 students across the Philippines and Indonesia, operating institutions, such as Araullo University, Cagayan de Oro College, University of Pangasinan and Southwestern University Phinma.
