Zilingo Pte’s board of directors is weighing options for the embattled Singapore startup after a financial adviser to the company said liquidation is the most viable solution and its co-founder presented an 11th-hour pitch for a management buyout.
The board members met on Monday to hear the alternatives, including a presentation from adviser Deloitte LLP to sell off the company’s assets, according to people familiar with the matter. Co-founder Dhruv Kapoor briefly made the pitch for a buyout, a surprise, last-minute development, said the people, asking not to be identified because the discussions are private.
