Hyflux: S$535m rescue deal is Utico's valuation; deal still on the table

Singapore

HYFLUX said on Wednesday that it has sought clarification from potential white knight Utico regarding a statement it had made on Tuesday valuing its rescue deal at S$535 million.

In a regulatory update, the embattled water treatment company clarified that the S$300 million equity injection and S$100 million shareholder loan, along with Utico's current intention to offer the cash equivalent of a 4 per cent stake in the enlarged Utico group, "has not changed".