LISTED energy and water conglomerate Vivant Corp. announced that its unit Vivant Hydrocore Holdings Inc. (VHHI) has decided to exit from its partnership with Israel-based company WaterMatic International Ltd. effective Friday, October 11.
LISTED energy and water conglomerate Vivant Corp. announced that its unit Vivant Hydrocore Holdings Inc. has decided to exit from its partnership with Israel-based company WaterMatic International Ltd. effective Friday, October 11.In a disclosure, VHHI said that it would be selling roughly 32 million common shares, or 60-percent interest, in the joint venture entity, Watermatic Philippines Corp. , at a price of P1.00 apiece.
'Its Israeli partner will be acquiring VHHI's 60 percent stake in WMP through a share sale and purchase agreement on an installment and deferred basis.VHHI and Watermatic International established the JV in 2019 to engage in the design, supply, installation, commissioning, operation, and maintenance of water treatment and wastewater treatment plants.
Unit Exits JV With Israeli Partner
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