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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Hyflux Ltd.    HYFL   SG1J47889782

HYFLUX LTD.

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Hyflux : Singapore's Hyflux says no definitive deal reached with UAE's Utico

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08/28/2019 | 02:22pm EDT

(Reuters) - Singapore's indebted Hyflux Ltd said no definitive restructuring deal with Utico FZC has been reached yet after the United Arab Emirates-based utility company said a deal had been agreed where it would take 88% of the water treatment firm.

Both companies are, however, in advanced discussions and were trying to resolve some final issues before a definitive deal could be signed, Hyflux said in a statement to the Singapore Exchange late on Wednesday.

At the start of the week, Utico said a deal had been reached without disclosing financial details.

Hyflux, which is under a court-supervised restructuring process, was once considered a national champion running a strategically important water source for the city-state.

Utico did not respond to a request for comment outside regular business hours.

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Shailesh Kuber)

Stocks mentioned in the article
ChangeLast1st jan.
HYFLUX LTD. -4.55% 0.21 End-of-day quote.0.00%
SINGAPORE EXCHANGE LIMITED -1.18% 8.4 End-of-day quote.16.67%
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Managers
NameTitle
Ooi Lin Lum Executive Chairman & Group Chief Executive Officer
Cheow Teck Chang Group Executive Vice President-Operations
Suat Wah Lim Group Chief Financial Officer & Group EVP
Kiang Kok Teo Lead Independent Non-Executive Director
Joo Hai Lee Independent Non-Executive Director