UAE utility firm Utico close to investing $295m in Hyflux for 88% stake

UAE utility firm Utico close to investing $295m in Hyflux for 88% stake

Source: Hyflux headquarters in Singapore. (Photo by Mayuko Tani, Nikkei Asian Review)

Beleaguered water treatment company Hyflux and UAE-headquartered Utico are working towards the completion of a deal that could see the latter invest as much as S$400 million in the Singapore-based company, according to a joint statement issued on Thursday.

To break down the numbers further, if the deal fructifies, Utico will invest S$300 million ($221.32 million) in Hyflux in lieu of an 88 per cent stake, and will pump in another S$100 million ($73.77 million) in the company as a shareholder loan.

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