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Hyflux rescue deal hits a snag as Utico revokes cash offer

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The rescue deal for Hyflux has hit another snag, with potential investor Utico now demanding that all of Hyflux's creditors accept shares of Utico and Hyflux as payment, instead of cash.

THE rescue deal for Hyflux has hit another snag, with potential investor Utico now demanding that all of Hyflux's creditors accept shares of Utico and Hyflux as payment, instead of cash.

In a letter to Hyflux and its stakeholders on Tuesday, Richard Menezes, chief executive of Emirati...

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