PUBLICLY listed Centro Escolar University is set to acquire the Las Piñas College as well as its property assets in Almanza, Las Piñas.
In a disclosure to the Philippine Stock Exchange on Wednesday, CEU said its board had approved the purchase of the college as well as land, building and improvements where it stood on. No other details were disclosed.
Based on its website, Las Piñas College started in 1975. Its late founder Dr. Faustino Legaspi Uy first opened the School of Nursing using Las Piñas General Hospital – that eventually became Dr. Faustino L. Uy Medical Foundation – as the clinical division in 1973. Two years after, the school started accepting kindergarten, elementary, high school, Nursing and Liberal Arts as well as vocational students. The school has since then diversified its course offering.
CEU, led by the heirs of the late business magnate Emilio Yap, had an enrolment of 22,751 for the first semester and 21,449 for the second semester of school year 2014-2015.
At present, CEU is valued by the stock market at P3.8 billion.