VIVANT Renewable Energy Corp. (VREC), a wholly owned subsidiary of Vivant Energy Corp. (VEC), is divesting its 32.26-percent stake in Buskowitz Energy Inc. to focus on its core businesses, listed conglomerate Vivant Corp. said on Thursday. "The divestment is part of VEC's efforts to focus its investments on its core competencies, particularly in its retail energy supply and small power utilities group businesses," VREC President and Chief Executive Officer (CEO) Mark Habana said. Buskowitz President and CEO James Buskowitz added that "this decision is rooted in mutual respect and a shared vision for a sustainable future. We value our past collaboration and look forward to pursuing our respective growth strategies." In a disclosure, Vivant Corp. said both companies signed an assignment agreement on Tuesday whereby VREC will divest its 560,000 common B shares, equivalent to a 32.26-percent stake, in Buskowitz. Singaporean firm Aurora Sustainable Energy Pte. Ltd. will acquire the outstanding common B shares by virtue of Buskowitz's assignment of the right to purchase VREC shares under a shareholders' agreement. The amount involved was not disclosed. Final transaction documents will be executed upon completion of the conditions detailed in the assignment agreement, Vivant said. Buskowitz is a solar development, engineering, procurement and construction company. It offers solar power purchase agreements, leases and solar loans for companies and individuals to help them switch to renewable energy. Vivant Corp. shares last traded at P14.86 each on September 17. Read The Rest at :