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Corporate Update

DyStar Becomes A Wholly Owned Subsidiary Of Zhejiang Longsheng Group, Kiri Industries To Exit With US$ 696.55 Million

• By  Textile Excellence
• June 09, 2025

DyStar, a global leader in dyestuff and specialty chemical manufacturing, has announced a significant transition in its ownership structure. Zhejiang Longsheng Group Co., Ltd., DyStar’s majority shareholder, has entered into a Share Purchase Agreement to acquire the 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd., held by Kiri Industries Ltd.

The transaction, valued at apporx. US$ 696.55 million, is subject to regulatory approvals and other customary conditions. Following the anticipated pre and post-closing adjustments, the acquisition is expected to be closed by November 3, 2025. It will settle the long-standing shareholder dispute between the companies adjudicated by the Singapore International Commercial Court (SICC).

The acquisition of shares follows the ruling by the SICC mandating the sale of 100% of DyStar’s equity. As Zhejiang Longsheng Group already holds 62.43% of DyStar, the acquisition of the remaining stake will establish DyStar as a wholly owned subsidiary of the buyer, reinforcing its strategic direction and operational stability.

Commenting on this significant development, Mr. Xu Yalin, Managing Director and President of DyStar Group, stated, “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 consolidation of ownership would strengthen DyStar’s leadership position in specialty chemicals and to drive innovation, advancing sustainable practices, as well as assist pursuing strategic growth initiatives to enhance its global competitiveness.

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.” - Xu Yalin, MD and President, DyStar