Dutch fund invests in Phinma schools

Iris Gonzales (The Philippine Star) - October 9, 2019 - 12:00am

MANILA, Philippines — Phinma Education Holdings Inc., the holding company for Phinma Group’s investments in educational institutions, has a new investor, Netherlands Development Finance Co. (FMO).

FMO will join Kaizen Private Equity II Pte. Ltd. and the Asian Development Bank which agreed to invest in Phinma Education last April.

Under the terms of the agreement, Kaizen and ADB will subscribe to shares of stock of Phinma Education worth P1.625 billion representing a 20.28 percent stake in the education holding company.

“The total subscriptions of FMO, together with Kaizen and ADB, will amount to P1.875 billion representing a 19.41 percent stake in Phinma Education, or lower than that disclosed earlier,” Phinma said.

Local investors Emar Corp. and Magdaleno Albarracin Jr. or their respective designees will also invest around P325 million.

Phinma Corp., the controlling stockholder of Phinma Education which waived its pre-emptive right to subscribe to the new shares, will remain the majority shareholder of the education arm after the investments agreements are closed.

Aside from education, Phinma, led by the Del Rosario Group, has investments in power, cement, hotels, real estate and consultancy.

The group’s education arm seeks to create opportunities in the Philippines to have accessible, national class quality education.

It offers not only affordable high quality education, but also a brighter future for globally competitive Filipino professionals and workers.

To fulfill this vision, Phinma Education aims to create graduates that are competitive in the global market, while at the same time, empowering them and their families to live a life that matters.

Phinma’s portfolio of schools include Araullo University in Nueva Ecija, Cagayan de Oro College in Misamis Oriental, University of Pangasinan in Pangasinan, University of Iloilo in Iloilo.

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