Phinma raises stake in Southwestern University

MANILA, Philippines - Phinma Corp. has acquired an additional 10.62 percent stake in Southwestern University for P367.8 million.

This brings Phinma’s total shareholdings in Southwestern University to 67.45 percent.

In a disclosure to the Philippine Stock Exchange (PSE), Phinma Corp. said the purchase of additional stake would strengthen the company’s position in the education sector.

The purchase price took into account various factors such as the number of enrollees, brand value, and the appraised values of properties registered under the name of the school. These properties include the Sacred Heart Hospital and 240 hectares of land in Cebu.

“The investment of Phinma Corporation in Southwestern University (SWU) will strengthen its position in the education industry. SWU is a strong education brand in the Visayas and Mindanao with a long tradition of excellence particularly in medicine and the allied health sciences,” it said.

Phinma said it plans to expand the university’s reach and build on the tradition of the Aznar family of Cebu, SWU’s founders.

Its education arm expects to grow its enrollment by 10,000 to 47,000 students, which should translate to higher revenues and bottom line.

“The Cebu location likewise gives Phinma presence in one of the country’s major education centers, expanding its physical reach and influence. This investment also represents PHINMA’s entry into the mid –income education market,” Phinma said.

Phinma assured the legacy of the family would remain intact.

“The transition from a family run company to becoming part of a national conglomerate will help protect the legacy of the family and ensure SWU’s future by becoming a professionally run institution with the goals of improving operational efficiencies, achieving economies of scale, and further improving the quality of education,” it said.

Phinma’s investment in SouthWestern University bolsters its portfolio of school.

At present, the group has four schools catering to the lower income segment. These are the University of Iloilo, Araullo University, Cagayan de Oro College and University of Pangasinan.

Through these schools, Phinma Education seeks to create opportunities in the Philippines to have accessible, national class quality education.

It offers affordable high quality education as well as a brighter future for globally competitive Filipino professionals and workers.

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