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.

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