FEU, Unilab unit partner to buy Pampanga school

Far Eastern University said Wednesday it has formed an equal partnership with MGHI Holdings Inc., a member of the United Laboratories Group Inc., to acquire a secondary and tertiary school in Pampanga.

FEU, a listed school, said together MGHI, it will acquire the assets of Colegio de Sebastian-Pampanga Inc. for a total P600 million, with each contributing P300 million.

FEU said a definitive agreement will be signed by the parties after finalizing documentation, discussions, and the conduct of due diligence. “We will make the necessary disclosures regarding the Project as soon as further information becomes available,” the school said.

Colegio de Sebastian is a private educational institution in San Fernando City that was  founded in 2011. It  provides affordable quality education, that includes undergraduate programs such Accountancy, Business, Tourism and Hospitality Management, Engineering, and Psychology. It also provides a senior high school .