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VIVANT Corp (VVT). announced that
its board approved the conduct of due diligence on Delta P. Inc. VVT
plans to acquire a 35 percent stake in Delta P, which owns a
16-megawatt bunker-fired diesel generating power plant and other
related facilities.
These power
facilities supply electricity to the National Power Corp. (Napocor)
in Palawan.
Originally
Selecta Dairy Products Inc. (SDPI), VVT said the proposed
acquisition price per share is estimated to be between P4.09 and
P4.16.
The estimated
aggregate cost of the planned acquisition is between P34.44 million
and P61.27 million, payable in full upon the close of the deal.
The VVT board
authorized Ramontito E. Garcia, the company president, to
represent the company in the transaction.
Earlier, VVT
signed an agreement with Gigawatt Power, Inc. (GPI) for the
acquisition of a diesel power generator company’s shares that will
allow its acquisition of the said equity in Delta P., Inc. The move
is aimed at strengthening VVT’s “portfolio of investments in the
electric power industry.” VVT’s primary business is in the
electric power industry and the importation of diesel fuel.
 --Likha
C. Cuevas
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