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Business deals

Singapore's Hyflux faces 5 p.m. deadline to accept bailout offer

UAE-based Utico's ultimatum follows long negotiations with water company

Bottles of NEWater, a product from water treatment company Hyflux, are displayed in Singapore. (Nikkei montage with Reuters image)

SINGAPORE -- Singapore's Hyflux faces a deadline of 5 p.m. local time Friday to accept a bailout offer from a potential Middle Eastern investor or search elsewhere, lawyers for the debt-laden water treatment group said.

Utico, a United Arab Emirates-based utility provider, issued the time limit during negotiations Wednesday, lawyers said on Thursday.

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