Deals
Sembcorp, YTL Said to Eye Pursuing $1.1 Billion Hyflux Plant
- Keppel also plans to study bid for Hyflux’s biggest asset
- Tuaspring includes Southeast Asia’s top desalination plant
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Sembcorp Industries Ltd. and Keppel Corp. are among parties planning to study bids for Hyflux Ltd.’s biggest asset, according to people with knowledge of the matter, in a sale that’s key to helping the cash-strapped company get back on its feet.
Hyflux’s Tuaspring project, which includes Southeast Asia’s biggest desalination plant, has also drawn interest from Malaysian generator YTL Power International Bhd., the people said, asking not to be named as the process is private. The asset had a book value of S$1.47 billion ($1.1 billion) at the end of March, according to Hyflux exchange filings.