Utico also intends to offer the cash equivalent of a 4% stake in the enlarged Utico group plus additional cash payouts to the holders of preference shares and perpetual capital securities.
SINGAPORE (July 16): After months of high tension drama as it teetered on the brink of bankruptcy, Hyflux looks like it is finally going to be saved by a white knight investor.
United Arab Emirates utilities group Utico FZC announced Tuesday it is buying an 88% stake in the debt-ridden water treatment firm for as much as $535 million.
