UPDATE 1-UAE's Utico says signs deal to rescue Singapore's Hyflux - Reuters:
United Arab Emirates-based utility Utico FZC said on Tuesday it had agreed a restructuring deal with Singapore’s indebted water treatment firm Hyflux Ltd , giving it 88% of the company.
Once lauded as a national champion running a strategically important water source for the city-state, Hyflux is now under a court-supervised restructuring process that could wipe out the holdings of tens of thousands of retail investors.
Utico said it agreed a deal with Hyflux on Monday, the last day before an exclusive discussion agreement ended. The financial details were not disclosed.
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