Philippines: Phinma unit buys St. Jude College for $7.3m

Source: Phinma Corp

Phinma Education Holdings Inc, a wholly-owned subsidiary of Philippine-listed company Phinma Corp, has acquired Manila-based St. Jude College Inc (SJC) for $7.3 million (P370.2 million).

Phinma Education completed the transaction on Wednesday (December 5) after buying 57,347 shares in SJC representing 95.6 per cent of the school’s issued and outstanding shares.

Founded in 1968 as a school of nursing, SJC has evolved into a full-service educational institution serving 3,050 students in basic education, college, and graduate school programmes.

Known mainly for tertiary allied health science courses, SJC also offers programmes in business, education, information technology, and hospitality.

The latest transaction adds to Phinma’s existing school subsidiaries Araullo University, Cagayan de Oro College, University of Iloilo, University of Pangasinan, Southwestern University, and Career Academy Asia Inc.

Besides education, Phinma has investments in steel products, housing, business process outsourcing, energy, and hotel sectors, including strategic consulting.

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