Anscor buys stake in hospitality management school

MANILA, Philippines - Listed holding firm A. Soriano Corp. (Anscor) expands its reach in the service sector as it buys a stake in a three-year old culinary and hospitality business school. Anscor is shelling out $6 million from its internal coffers for a 20 percent stake in Enderun Colleges, Inc., which offers degree and certificate courses in business administration, culinary arts and hotel administration. "We are excited about the prospect of re-establishing the Philippines as a center for educational excellence in the world, and proud that Enderun competes so favorably with the finest hospitality management schools in the US and Europe," Anscor chairman Andres Soriano III said in a statement issued on Wednesday. For his part, Enderun President Javier Infante said the capital infusion from Anscor will allow the school to give students a higher quality of educational experience. "This new funding, and the strategic relationship with Anscor, which boasts a broad array of synergistic commercial interests worldwide, further bolster (our) mission by supporting new investments in facilities, academic research, and student services," Infante said. Anscor is taking advantage of the booming services sector. It has ventures in outsourcing, tourism, aviation, and clinical staffing. - GMANews.TV