UAE's Utico confident of securing deal for Singapore's Hyflux: CEO - Reuters:
United Arab Emirates-based Utico FZC said on Thursday it was confident a restructuring deal with Singapore’s indebted Hyflux Ltd (HYFL.SI) could be reached, after the two sides earlier issued conflicting statements about progress on an agreement.
Utico announced at the start of the week that a deal had been reached in which it would take 88% of Hyflux, but the Singaporean firm said on Wednesday no definitive agreement had been struck although discussions were advanced.
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.
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