SMI says Hyflux's schemes of arrangement 'do not satisfy' restructuring deal
PC Lee • • 3 min read
SINGAPORE (Mar 28): Hyflux’s white knight SM Investments (SMI) has issued a statement saying it does not agree with the schemes of arrangement of proposed by the water company and that the schemes do not satisfy the conditions of the restructuring agree
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SINGAPORE (Mar 28): Hyflux’s white knight SM Investments (SMI) has issued a statement saying it does not agree with the schemes of arrangement of proposed by the water company and that the schemes do not satisfy the conditions of the restructuring agreement.
The latest statement by SMI on Thursday throws the rescue deal agreed between Hyflux and SMI – a consortium made up of Indonesian conglomerate Salim Group and energy giant Medco Group – into jeopardy.
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