Philippines: ADB, Kaizen PE invest $31.5m in Phinma’s education unit

Source: Phinma Corp

Phinma Corp, a listed holding firm in the Philippines, has announced that the Asian Development Bank (ADB) education sector-focused private equity firm Kaizen Private Equity have taken a 20.28 per cent stake in its education unit for P1.63 billion ($31.5 million).

In a disclosure to the Philippine Stock Exchange (PSE), Phinma said its board authorised the signing of an investment agreement by its unit Phina Education Holdings, ADB, and the Indian PE firm for the acquisition of newly issued shares.

The two new investors will also be inducted into Phinma’s board of directors. The listed firm waived its rights to subscribe to new shares in Phinma Educaiton in favor of the investors.

Phinma will remain the majority stakeholder of Phinma Education with 68.6-per cent interest, upon closing of the transaction which is expected on or before September 30, 2019.

The deal is still subject to certain conditions and approvals, Phinma said in its stock exchange filing.

Phinma Education is the holding company for Phinma’s investments in educational institutions. The unit owns Araullo University, Cagayan de Oro College, University of Pangasinan, University of Iloilo, Southwestern University, and St. Jude College.

It also has a 50-per cent stake in Phinma Saytanar Education Ltd. in Myanmar.

Last February, Phinma Education signed an agreement with Indonesia’s Tripersada Global Manajemen to form PT Ind-Phil Management Co. Phinma invested P278 million (P5.38 million) for a 66-per cent stake in the joint venture that will hold and manage tertiary institutions for Yayasan Triputra Persada Horizon Education.

Also Read:

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Philippines: Phinma Education buys out parent firm’s stake in different universities for $34m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.