Utico is one of the suitors for embattled water treatment firm Hyflux and is planning to acquire an 88% stake in the company. The company has received “substantial approvals” from creditors for the deal after several meetings, Menezes said.
(July 26): United Arab Emirates-based utility Utico FZC plans to raise as much as $500 million through a listing on the Singapore Exchange in the next two years, according to chief executive officer Richard Menezes.
“We are meeting SGX today for Utico’s listing and other matters,” Menezes told Bloomberg in Singapore on Thursday. The valuation of the company will be at least $2 billion, he said.
