th images menu user export search eye clock list list2 arrow-left untitled twitter facebook googleplus instagram cross photos entrep-logo-svg

Rich Listers Ayalas and Yuchengcos in Talks to Merge Mapua University, Malayan Colleges and APEC Schools

Discussions aim to finalize terms and conditions of consolidation by end of first quarter 2018
By Elyssa Christine Lopez |



Two of the country’s richest school owners, the Ayala and Yuchengco families, are teaming up to merge their education units and create what could be one of the most innovative and technologically savvy school networks in the country.


In a disclosure to the Philippine Stock Exchange (PSE) on January 9, listed conglomerate Ayala Corp. said that its subsidiary, AC Education Inc. (AEI) has signed a non-binding term sheet with iPeople Inc., the listed holding company for the education sector of House of Investments Inc., a member of the Yuchengco Group of Companies, for a potential merger.


“Under the non-binding term sheet, the parties agreed to an exclusivity period to complete due diligence, and to finalize the terms and conditions of the proposed merger within the first quarter of 2018,” the statement read.


iPeople, through its subsidiary Malayan Education System, Inc., operates one of the country’s top engineering and IT schools, Mapua University. The Yuchengcos acquired the 93-year-old institution in 1999 and has since expanded its operations to two branches under the brand Malayan Colleges. Like Mapua, Malayan Colleges Laguna and Malayan Colleges Mindanao also specialize in engineering and technical courses.


Ayala Corp.’s direct investment in education came about more recently, in 2014, when AEI began to build a chain of private high schools called Affordable Private Education Center Schools or APEC Schools. The institution offers Grade 7 to 12 following the K-12 curriculum. It now has 23 branches all over Metro Manila and some provinces in in Southern Luzon.


APEC was established in partnership with UK-based education and publishing company Pearson Plc. The institution is 60-percent owned by AEI and 40-percent owned by Pearson. Aside from APEC, AEI also acquired a 59-percent stake in University of Nueva Caceres in Naga City in 2015.


iPeople and AEI’s potential merger would bring together a population of 40,000 students. Both education groups are known for employing innovative technology and systems to deliver quality education at the least cost. APEC claims its all-in tuition fee is in the lowest fourth among all private schools in Metro Manila.


APEC says it employs progressive teaching methods developed in collaboration with Pearson to encourage active and collaborative learning. It offers full English immersion, technology-based learning system and employment readiness through its network of employer partners.


On the other hand, Mapua University is a world-ranked QS-3 star university and the school with the most Commission on Higher Education (CHED) Centers of Excellence in Engineering. Its subsidiary, Malayan Colleges Laguna, is the best board exam performing private school in the Southern Luzon region.



The Ayalas and Yuchengcos are among the country’s richest family-based business groups, according to a ranking by Forbes magazine. Jaime Zobel de Ayala, the family patriarch, was listed as the fifth richest person in the Philippines in 2017 with a net worth of $3.7 billion. Before his death in April 2017, Alfonso Yuchengco, who built the family fortune, was ranked by Forbes as the 32nd richest Filipino in 2016 with a net worth of $400 million. They are among eight Philippine rich-listers who also own schools.



Related story: Who are the Philippines' Richest School Owners? 






Elyssa Christine Lopez is a staff writer of Entrepreneur PH. Follow her on Twitter @elyssalopz

Latest Articles

(WATCH) How Anne Curtis Fulfilled A Dream By Launching Her Own Make-up Line

The actress and host shares how she came up with blk Cosmetics with the help of industry veterans

byPaul John Caña | March 23, 2018 17:00:00

Robinsons Retail Acquires Rustan’s Supermarkets, Shopwise in Php18-B Share-Swap Deal

HK-based retailer Dairy Farm to own 18.25% of Gokongwei-owned retail firm in exchange for 100% of...

byEntrepreneur Staff | March 23, 2018 17:00:00

Here's a Platform For Pinoy MSMEs to Network and Expand Their Business Globally

GlobalLinker is a social media and business tool website for entrepreneurs

byNicai de Guzman | March 23, 2018 17:00:00

Billion-Dollar Design Startup Helps Pinoy Entrepreneurs Create Engaging Visual Content

Australia-based Canva has achieved unicorn status but strives to remain affordable and accessible

byPaul John Caña | March 23, 2018 09:00:00

Don't Show Off, Show Interest

How to network, not do in-person cold calls

byIvan Misner | March 23, 2018 08:00:00

Read Mark Zuckerberg's Full Statement on Facebook's Data Scandal

The CEO broke his silence on the Cambridge Analytica controversy

byEntrepreneur US Staff | March 23, 2018 06:00:00

4 Ways to Boost Your Business by Cutting Costs

The best ROI is achieved when you stop wasting money

byMonica Zent | March 23, 2018 00:00:00

The Unusual Hobbies of 8 of the World's Most Successful Business Leaders

Ukulele anyone?

byNina Zipkin | March 23, 2018 00:00:00

SEC on Initial Coin Offerings: If It Acts Like a Security, It Must be a Security and Must be Registered

A regulator explains how the commission is trying to balance technological innovation and investor...

byRoel Landingin | March 22, 2018 10:00:00

Tired of Condo Investments? Ortigas & Co. Offers Office Spaces for Sale in New Mixed-Use Project

Office rents in the Ortigas central business district almost doubled in 2017

byElyssa Christine Lopez | March 22, 2018 10:00:00

How You Can Get Ahead in Business in Just 5 Minutes

In today's world, giving to others gets results

byZach Obront | March 22, 2018 08:00:00

10 Crazy Effects Music Has on Your Brain

Here's how different types of tunes affect your productivity, creativity, spending habits and more

byLydia Belanger | March 22, 2018 06:00:00