Vivant Corp., through a unit, acquired a 45% interest in Faith Lived Out Visions 2 Ventures Holdings Inc. in partnership with the city of Puerto Princesa to develop a sewerage and septage facility.
Vivant disclosed to the Philippine Stock Exchange Friday it received a notice from wholly-owned subsidiary Vivant Infracore Holdings Inc. that Vivant Hydrocore Holdings Inc. purchased an equity interest in 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 in developing a combined sewerage and septage facility serving the City of Puerto Princesa,” Vivant said.
The value of the transaction is less than one percent of the stockholders’ equity of Vivant.
VHHI is a wholly-owned subsidiary of VIHI, which, in turn, is wholly-owned by Vivant.
VHHI entered in June last year signed an agreement with an Israeli company, WaterMatic International Ltd., to establish a joint venture firm that will be engaged in the design, supply (including detailed design, procurement and assembly), installation and maintenance of water treatment and waste water treatment plants.
Vivant said the signing of the agreement with an experienced company in the water and wastewater treatment business was part of its thrust to diversify its investment portfolio to include infrastructure.
Vivant’s business is primarily focused on the power sector.
Vivant, incorporated on May 28, 1990, through subsidiaries and affiliates, has interests in several companies engaged in electric power generation (renewable and non-renewable energy), electric power distribution and retail electricity supply business.
The Garcia-Escaño family of Cebu owns a majority stake in the company.