TWO parties are looking to acquire shares in Utico. If successful, the deal could value the United Arab Emirates-based utilities group at up to US$1.5 billion.
In its press statement on Friday, Utico said the interested parties have interests in the Gulf Cooperation Council, the UK, Singapore and Indonesia. It did not disclose the size of the stake that may be acquired.
Utico added that the potential buyers had approached it to become partners in relation to the acquisition of troubled Singapore...