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Half-price side offer to Hyflux's unsecured lenders: Lum

Revelation of this alleged offer, made in Hyflux CEO's affidavit, is unlikely to affect the deal on the table with Utico; adviser Borrelli Walsh denies the existence of such an offer

Hyflux has until Aug 26 to ink a definitive deal with Utico, which has agreed to take an 88% stake in the water treatment company.


AN affidavit filed in the Singapore Court last Friday showed that Borrelli Walsh, adviser for water treatment firm Hyflux's unsecured working group of lenders, had offered Utico a half-price deal in May to sell the business and assets for less than S$200 million by putting them...

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