FEU, Unilab poised to buy Pampanga college for P600m

Far Eastern University Inc. is teaming up with United Laboratories Inc. Group , the country’s largest pharmaceutical company owned by the Campos family to acquire a school in San Fernando, Pampanga.

Under the agreement, FEU and MGHI will each invest up to P300 million in Higher Academia Inc. for a total equity of P600 million. “No definitive agreement has been signed pending finalization of the documentation, discussions and the conduct of due diligence,” FEU said. “On the overall economy, the group maintains a conservative outlook. With this, the management will continue to be prudent in the implementation of its operations, investment, and business continuity plans, both at the corporate and the academic levels, to mitigate any foreseen negative impacts on the overall operations,” FEU said.

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