Utico agrees in principle with Hyflux to cap all adviser fees at S$40m

Singapore

UNITED Arab Emirates utility firm Utico announced on Thursday that it has agreed in principle with Hyflux to cap all adviser fees at S$40 million.

This will resolve a contentious item under the restructuring agreement and takes it one step closer to finalising a rescue deal for the insolvent water treatment firm, Utico said in a statement.