Utico to acquire 88% stake in Hyflux

Utico, a UAE-based utility company, agreed to acquire an 88% stake in Singapore's Hyflux, a water treatment company. The total deal value is approximately S$535 million, including a S$400 million commitment to Hyflux. Hyflux will remain a separate listed entity.

“The aim is to save time and move expeditiously as both Utico and Hyflux, investors and creditors are aware of the fact that time is of essence in preserving the value of the Singaporean company and arrest further slide.”smartwatermagazine.com

• 2 sources
• smartwatermagazine.comUtico to own 88 per cent of Singapore’s Hyflux – Smart Water MagazineUticoJul 16, 2019
• smartwatermagazine.comUtico signs deal to rescue Singapore’s Hyflux – Smart Water MagazineUticoAug 27, 2019

Summarized from public sources; check the original articles before acting on it.