DyStar Issues Update On Longsheng Ownership Transition
DyStar, a leading specialty chemical company with more than a century of innovation, has issued an update regarding the Share Purchase Agreement for the acquisition of 37.57% of the issued share capital of DyStar Global Holdings (Singapore) Pte Ltd.
Zhejiang Longsheng Group Co., Ltd. has deposited USD 3,482,739 into the designated escrow account and submitted the necessary regulatory filing documents to China’s National Development and Reform Commission and the Ministry of Commerce. These filings are currently under review and remain pending.
On November 4, DyStar’s Receivers, appointed by Deloitte & Touche Financial Advisory Services Pte Ltd and Zhejiang Longsheng mutually agreed via email to extend the final completion deadline to December 1, 2025.
As part of the agreement, Zhejiang Longsheng is required to transfer an additional USD 5,112,156 to the escrow account within 10 working days from November 3, 2025. A supplemental agreement formalizing the extension will be executed accordingly.
“DyStar remains confident in Zhejiang Longsheng Group’s ability to progress the transaction and complete the required regulatory approvals,” said Mr. Xu Yalin, Managing Director and President of DyStar Group.
