Thursday, 27 October 2016

Stock Market Today : Hyflux divests stake in Galaxy Newspring for US$136.5 mil .

Image result for hyflux logo

SINGAPORE (Oct 27): Hyflux says that its roundabout completely possessed backup, Hyflux Asset Management, has sold its half stake in Galaxy NewSpring to Yunnan Water Hong Kong Company for US$136.5 million (S$190 million).

Universe is in the matter of contributing, creating, building, owning, working and keeping up water-related framework resources.

The staying half stake in Galaxy NewSpring is held by Yunnan Water.

Hyflux says that the deal cost was resolved on an a safe distance premise, and records for Galaxy's authentic money related execution and its total book estimation of S$189.9 million.

The gathering additionally clarified that the divestment is in agreement to its advantage light business technique, and Galaxy had been delegated a benefit held available to be purchased since end 2015.

The money thought is relied upon to be sent for future improvement for new tasks, includes Hyflux.

Shares of Hyflux are exchanging 1 penny higher at 46.5 pennies.

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