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Vivant Renewable Energy Corp. , a wholly-owned subsidiary of Vivant Energy Corp. , said Thursday it is divesting its 32.26-percent stake in Buskowitz Energy Inc. to focus on its retail energy supply and the Small Power Utilities Group business.
The transfer will be implemented through the acquisition by Aurora Sustainable Energy Pte. Ltd., a private limited company incorporated in Singapore, of outstanding common B shares, through the assignment by BEI of its right to purchase VREC’s shares under the shareholders’ agreement. The divestment was approved by the VREC/Vivant Energy board on Sept. 5, 2024, subject to finalization of transaction documents. VREC said it would sell 560,000 common B shares equivalent to 32.26 percent shares. VREC acquired its stake in BEI in 2021.
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