Hyflux secures non-binding letter of interest from interested investor

The investor is targeting Hyflux assets in the Middle East and North Africa.

Hyflux received a non-binding letter of interest from a potential investor eyeing to acquire certain assets of the firm in Algeria and Oman, as well as other assets in the Middle East and North Africa region.

According to an announcement, the said investor is also interested in the operation and maintenance activities related to the assets. Particularly, Hyflux revealed that the investor intends the proposed transaction to grow the investor’s portfolio of desalination plants.

“The company understands that the investor is one of the top 10 largest desalination companies globally,” Hyflux said, noting that the investor is one of the world’s leading infrastructure companies and is a specialist in engineering, construction, operation and maintenance of water treatment facilities.

“The investor is conscious of the timeline and has indicated that it would be willing to devote all necessary resources to ensure that the due diligence process and the consummation of the proposed transaction are carried out in the shortest possible timeframe,” Hyflux added.

The Singapore firm said that whilst it is considering all serious offers and expressions of interest received, the priority remains for a strategic investor for the entire group.