Mitsui and Hyflux’s stars align in new Galaxy
- From: Vol 11, Issue 8 (August 2010)
- Category: General
- Region: Asia
- Country: Singapore
- Related Companies: Hyflux and Mitsui & Co.
The delisting of Hyflux Water Trust will give Hyflux a more robust vehicle to recycle capital. It will also give Mitsui a foothold in the Chinese water treatment market.
Mitsui has negotiated its entry into the Chinese water market by agreeing to pay ¥10 billion ($116 million) for a 50% stake in a new joint venture which will control a portfolio of water and wastewater treatment assets originated by Hyflux.
The new investment vehicle, Galaxy NewSpring, will be held in equal parts by Hyflux and Mitsui, and will absorb ...
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