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Hyflux unit selling China water treatment plant stake for US$136.5m

WATER treatment firm Hyflux Ltd on Wednesday said its unit is selling its 50 per cent stake in treatment plant Galaxy NewSpring for US$136.5 million.

The stake will be sold to Yunnan Water (Hong Kong) Company Limited, which had held the remaining 50 per cent of the Chinese treatment plant.

Since the end of financial year 2015, the Group has classified its shareholding in Galaxy as assets held for sale. The transaction is part of the group's asset light strategy.