Longsheng Acquires Full Control Of DyStar, Shareholder Disputes Resolved
Zhejiang Longsheng Group Co. Ltd., has acquired full ownership of global dyes and specialty chemicals major DyStar Group, following the successful completion of a share acquisition from KIRI Industries Ltd.
The transaction, executed through court-appointed receivers Deloitte & Touche Financial Advisory Services Pte Ltd, was completed and closed on the same day. With this development, all litigation between Zhejiang Longsheng and KIRI Industries concerning DyStar’s shareholding has been concluded. The two directors nominated by KIRI have resigned from the DyStar Board, consolidating governance under Longsheng.
“We are delighted with the successful conclusion of this transaction as it aligns with Longsheng’s strategic objective of becoming a world-class provider of specialty chemical production services. I am confident DyStar’s consolidated profits will be further strengthened as we remain united and work together for a better tomorrow,” said Ruan Weixiang, Chairman, Board of Directors, DyStar Group.
Echoing this sentiment, Xu Yalin, Managing Director & President, DyStar Group, stated, “The complete resolution of the shareholders’ dispute marks a pivotal milestone for DyStar. With full ownership and unified governance under the leadership of Zhejiang Longsheng Group, DyStar is well positioned to strengthen its global operations, accelerate innovation and deliver sustainable value for all stakeholders.”
With the ownership transition now complete, DyStar Group plans to reinforce transparency, deepen stakeholder engagement and advance sustainability-led growth. The company aims to expand global partnerships, enhance innovation and improve value creation across its operations.
