The management of University of Nueva Caceres in Naga City is up for a change. This, after the Ayala Education, Inc. acquired a 60-per cent controlling interest in the premier and first university in the Bicol region.
The education investment arm of the Ayala Corporation now holds the majority of the seat of UNC’s board of directors under the newly appointed president Alfredo Imperial Ayala, also Ayala Education’s chief executive officer (CEO).
The 60 per cent controlling interest is equivalent to P450 million, giving the investment conglomerate’s Ayala Education its flagship educational institution under its helm.
It must be recalled that in April 2013, tbe Bicol Street Journal posted this story “Is the University of Nueva Caceres for Sale or Just a Rumor?” Now it can be confirmed that it is true, the school was for sale.
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2 thoughts on “University of Nueva Caceres purchased by Ayala Education Foundation for P450-million”
It hurts me every time i see something like this abput UNC bcus dr.jaime hernendez was my grandfather i have heard the talks about this happening with family members way back when i was still in H.S but it was just talks and when i came here in america i lost any contac connection with the school then few years ago i found that it was sold to ayala and i look at the board of trustees i coulld not recognize any famiky memeber sitting i wish i have known how serious the school problems are so i could have at least help out or do something or anything,..i dont see anyone i know family wise even sitting in any position in the school it breaks my heart…
Archie Hernandez Leoquinco
It is sad indeed. From thereon, moneytalks other than the corporate reason the school was founded by Dr. Jaime Hernandez. Adding more cloud on its operations is this: https://cbanga360.net/2018/11/11/university-of-nueva-caceres-now-under-new-corporate-ownership-again/