From the Sector

DyStar, a leading specialty chemicals company with more than a century of tradition in product development and innovation, announced that its main shareholder, Zhejiang Longsheng Group Co., Ltd, has entered into a share purchase agreement to acquire 37.57% of the issued shares of DyStar Global Holdings (Singapore) Pte. Ltd., previously held by Kiri Industries Limited. 

The acquisition follows a ruling by the Singapore International Commercial Court (SICC) requiring the sale of 100% of DyStar's equity. As the controlling shareholder with 62.43% of DyStar, the strategic acquisition of the outstanding shares by Zhejiang Longsheng Group will result in DyStar becoming a wholly owned subsidiary. This transaction ends the long-standing legal dispute with Kiri Industries and thus prevents a complete sale of DyStar. 

The total purchase price is $696.5478 million, subject to adjustments on or after the closing date. Closing is subject to regulatory approvals and other customary conditions, with the expected closing date being no later than 3 November 2025. 

Xu Yalin, Managing Director and President of the DyStar Group, said: ‘We are pleased with the final settlement of the legal dispute, which will enable the DyStar Group to move forward with certainty, confidence and a new strategic focus. This is a significant milestone in our 30-year history, as it strengthens our long-term stability and commitment to our global stakeholders.’ 

This development will enable DyStar to further expand its leadership position in the specialty chemicals sector and its value chain. The group remains firmly committed to driving innovation, promoting sustainable practices and pursuing strategic growth initiatives to strengthen its global competitiveness.