Zhejiang Longsheng Acquires Remaining Stake In DyStar
DyStar, a global leader in specialty chemicals with over a century of innovation and product development, announced today that its majority shareholder, Zhejiang Longsheng Group Co., Ltd, has signed a Share Purchase Agreement to acquire the remaining 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd. from Kiri Industries Limited.
This acquisition follows a ruling by the Singapore International Commercial Court (SICC), which mandated the sale of 100% equity in DyStar. Zhejiang Longsheng, which currently holds 62.43% of DyStar, will become the sole owner following this transaction. The move brings a definitive end to the prolonged legal dispute between the two parties, effectively preventing a full sale of the company.
The total consideration for the transaction is valued at US$ 696.55 million, subject to customary closing adjustments. Completion is expected by November 3, 2025, pending regulatory approvals and fulfillment of standard closing conditions.
Commenting on the development, 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.”
With this transition, DyStar is poised to strengthen its leadership position in the specialty chemicals sector. The company reiterated its commitment to innovation, sustainability, and strategic growth as it continues to deliver value across the global chemical value chain.
DyStar remains dedicated to being a reliable partner and responsible industry leader, advancing sustainable progress throughout the specialty chemical industry worldwide.
