Far Eastern University, Inc. plans on taking over Roosevelt College at a lowered price, in line with the ongoing consolidation in the industry. A share purchase agreement has been entered with Roosevelt College, Inc.’s shareholders, as revealed by FEU in a disclosure to the stock exchange.
Under the deal, the FEU may increase shareholdings up to 99.42% of Roosevelt College by buying additional shares from other shareholders at the same purchase price and terms. The BDO Group not only funded the transaction, but also served as the financial advisor. The deeds of absolute sale, which includes the transfer of ownership and control over Roosevelt College, will be effected upon closing.
