Hyflux sells consumer businesses for US$50m
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HYFLUX is selling two consumer businesses for about US$50 million in cash as it refocuses on industrial and municipal projects, but analysts cautioned against hoping for a special payout.
The water treatment specialist yesterday announced that it will sell its entire 50 per cent stake in consumer water treatment research business Hyflux Marmon Development (HMD) to Marmon Water (Singapore) (MWS) for US$43.4 million. That would represent a gain of S$53.9 million over HMD's net book value and estimated transaction costs. HMD's other 50 per cent equity interest is held by Marmon Water Inc, an affiliate of MWS.
Sale proceeds will be used for strategic investments and working capital purposes.
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