DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, announced today that its major shareholder, Zhejiang Longsheng Group Co., Ltd has entered into a Share Purchase Agreement to acquire 37.57% of issued shares in DyStar Global Holdings (Singapore) Pte. Ltd., previously held by Kiri Industries Limited.
The acquisition follows a ruling by the Singapore International Commercial Court (SICC) mandating the sale of 100% of DyStar’s equity. As controlling shareholder with 62.43% of DyStar, Zhejiang Longsheng Group’s strategic acquisition of the outstanding shares will result in DyStar becoming a wholly owned subsidiary. This transaction resolves the long-standing litigation with Kiri Industries, thereby avoiding a full sale of DyStar.
The total consideration is valued at USD 696.5478 million, subject to adjustments on or after the closing date. Completion is contingent upon regulatory approvals and other customary conditions with an anticipated closing date no later than November 3, 2025.
Mr. Xu Yalin, Managing Director, and President of DyStar Group said, “We are delighted with the conclusive resolution of the dispute, which enables DyStar Group to move forward with certainty, confidence, and renewed strategic focus. This marks a significant milestone in our 30-year journey as it reinforces our long-term stability and commitment to our global stakeholders.”
This development positions DyStar to further its leadership in specialty chemicals and its value chain. The Group remains firmly committed to driving innovation, advancing sustainable practices, and pursuing strategic growth initiatives to enhance its global competitiveness.
DyStar will continue to prioritize its role as a trusted partner and responsible industry leader, delivering continued sustainable progress across the global specialty chemical sector.
