A UNIT of Vivant Corp. has acquired a 45% stake in a company that is jointly developing with a local government a combined sewerage and septage facility for Puerto Princesa City in Palawan province.
In a disclosure to the stock exchange on Friday, Vivant said it was notified by wholly owned subsidiary Vivant Infracore Holdings, Inc. of the acquisition by Vivant Hydrocore Holdings Inc. of the equity interest in Faith Lived Out Visions 2 Ventures Holdings, Inc., or FLOWs.
“The transaction will result in Vivant ultimately owning 40% in Puerto Princesa Water Reclamation and Learning Center, Inc., the joint venture company of the City of Puerto Princesa and FLOWs,” it said.
Vivant also said that the value of the transaction is less than a percent of its stockholders’ equity.
The disclosure comes after the listed company earlier this week disclosed the signing of a 15-megawatt (MW) power supply agreement between the Bantayan Electric Cooperative, Inc. (Banelco) and Isla Norte Energy Corp.
Isla Norte is a consortium of Vivant Energy Corp., its wholly owned subsidiary Vivant Integrated Diesel Corp. and Gigawatt Power, Inc., with the Vivant group owning 65% total equity.
Under the agreement, Isla Norte will install a 23.31-MW diesel-fired power plant in the town of Bantayan, a popular tourist destination in northern Cebu.
Vivant Integrated Diesel is a wholly owned subsidiary of Vivant Energy, which manages the investments of publicly listed Vivant Corp. in the energy sector. — Victor V. Saulon