Hyflux backs Strategic Growth Investments' rescue deal

Singapore

THREE days before the Hyflux judicial management order application is due to be heard in Court, the water treatment firm on Friday evening shared in-depth details of Strategic Growth Investments' (SGI) term sheet, and backed its proposal, calling it "comprehensive" and saying it "appears to address the key concerns raised by the various stakeholders".

A detailed term sheet from SGI, the fourth white knight in a long-running saga, was filed to the Singapore Exchange on Friday. It showed SGI's proposal to acquire and privatise Hyflux, including all its subsidiaries, as well as its ownership interests in plants and other businesses.