Conglomerate Ayala Corp. has raised its stake in the Philippine educational system with a new deal to take over National Teachers College (NTC), a 90-year-old institution that pioneered educating future teachers.
The acquisition of a 96-percent stake in NTC, but which is still subject to closing conditions, will be made through the group’s education arm AC Education, based on an Ayala disclosure to the Philippine Stock Exchange on Thursday.
NTC is located on Nepomuceno Street in Quiapo, Manila. It was founded in 1928 as the first school in the country to offer general education leading to a Bachelor of Science in Education. With a long track record of commitment to excellence in teaching, growth and inclusion, it currently has almost 10,000 students in the basic to higher education levels.
Accredited by the Philippine Association of Colleges and Universities Commission on Accreditation (Pacucoa) for its Bachelor programs in elementary and secondary education, NTC has over 3,500 Education students in both college and graduate programs.
The institution has also established growing colleges in the fields of accountancy and business, arts and science, hospitality management and information technology. It also has a School of Advanced Studies.
“We are very grateful that several groups had expressed their sincere interest in continuing the legacy of National Teachers College as established by our forebears. In selecting the buyer who shall acquire the shares of NTC, it was important to look not only at the capability to expand the school’s horizons, but also at the alignment of values and vision for raising our Filipino youth to be excellent teachers, industry leaders, or capable and competent individuals, in whatever path they may choose,” said NTC chair Rolando De Castro.
“We look forward to working with AC Education in this transition process and in moving NTC closer to becoming the world-class institution it was intended to be. We are honored to pass on the torch to AC Education, which we are confident will remain committed to building on the ideals upon which NTC was founded,” he added.
Jaime Augusto Zobel de Ayala, chair and chief executive of Ayala Corp., said investing in education was critical in nation-building.
“We believe that NTC can play an integral role in our efforts to contribute to a better education system in the Philippines because of NTC’s long and successful track record in producing quality educators who go on to teach in both public and private schools,” Zobel said.
AC Education CEO Alfredo Ayala said NTC would be a key element in the proposed merger between AC Education Inc. and iPeople, the listed education arm of the Yuchengcos’ House of Investments Inc.
AC Education owns and operates the University of Nueva Caceres (UNC), one of the oldest and largest universities in Bicol and APEC Schools, the largest standalone chain of private high schools in the country.