Singapore's Hyflux supports SGI Deal

Hyflux ltd., has supported a plan proposed by Strategic Growth Investments LLC to acquire and privatize it in a transaction that would include a cash injection of $154 million. The water treatment company will work with SGI, to facilitate the adoption and implementation of this proposal by the various stakeholders on a timely basis. 

Hyflux’s debt includes bank loans and bonds held by 34,000 retail investors. Despite being approved by multiple suitors, the company has failed to reach an agreement and has sought several extensions on its debt moratorium.