SINGAPORE - Another potential investor has deepened talks with Hyflux as the insolvent water treatment firm searches for fresh funds to stave off liquidation.
Hyflux said it envisions an investment of up to S$500 million in the group by the fund, subject to regulatory clearance, due diligence and the execution of a definitive agreement. At the time, HyfluxShop was valued at S$20 million, based on the price per share she offered to pay. Hyflux also agreed to buy S$20 million HyfluxShop preference shares with a 6 per cent annual dividend.
During a hearing in the Singapore High Court on Tuesday, Hyflux was asked to give more clarity on its planned timeline to get a restructuring complete.
Source: Healthcare Press (healthcarepress.net)
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