Cebu-based Vivant Corporation, through subsidiary Vivant Renewable Energy Corporation (VREC), is investing up to Php364 million in Buskowitz Finance, Inc. (BFI).
BFI is a solar engineering, procurement and construction (EPC) firm and is considered as one of the biggest players in the country’s rooftop solar installation market.
In a disclosure to the Philippine Stock Exchange, Vivant said that VREC will purchase up to 34.85% of BFI’s shares under a Shareholders’ Agreement signed on Wednesday.
The transaction, which Vivant says is a strategic investment to increase its renewable energy footprint, “will be completed through a series of infusions via deposits for future subscription of shares pursuant to an increase in the authorized capital stock of BFI.”