PHINMA Corp. has signed a share purchase agreement for the acquisition of 95.6-percent equity in St. Jude College, Inc. for P370.2 million.
Phinma acquired 57,347 shares equivalent to 95.6 percent of St. Jude College through its wholly-owned subsidiary Phinma Education Holdings, Inc.
“The corresponding Deeds of Absolute Sale were executed today (Wednesday) and the transfer will be recorded in the books of St. Jude College upon issuance of the appropriate tax clearances,” Phinma told the stock exchange.
Established in 1968 as a nursing school, St. Jude College, located in Manila, is now a full service educational institution serving 3,050 students in basic education, college, and graduate school programs.
Known mainly for tertiary allied health science courses, it also offers programs in business, education, information technology, and hospitality.
Phinma Corp., meanwhile, is a holding company with business interests in education as well as in the steel products, housing, business process outsourcing and energy sectors.