Once lauded as a national champion running a strategically important water source for the city-state, Hyflux is now under a court-supervised restructuring process that could wipe out the holdings of tens of thousands of retail investors.
SINGAPORE: United Arab Emirates-based utility Utico FZC said on Tuesday it had agreed a restructuring deal with Singapore's indebted water treatment firm Hyflux Ltd, giving it 88% of the company.
Once lauded as a national champion running a strategically important water source for the city-state, Hyflux is now under a court-supervised restructuring process that could wipe out the holdings of tens of thousands of retail investors.
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