Game-Changer Deal: Zhejiang Longsheng to Snap Up 37.57% DyStar Stake from Kiri for $676M+

Unknown Apr 02, 2026 700 Views

Kiri Industries Ltd is on the verge of a transformative financial event as Zhejiang Longsheng Group, through its subsidiary Senda International, prepares to acquire Kiri’s entire 37.57% stake in DyStar Global Holdings. The landmark deal, valued at a base consideration of $676.26 million, in...

Key Highlights:

The Singapore International Commercial Court has mandated the en bloc sale of DyStar shares held by both Kiri Industries and Senda International, with Deloitte & Touche LLP appointed as receivers to oversee the transaction. The sale is expected to be completed by December 31, 2025.

Kiri Industries will receive $603.8 million as a priority payment from the sale proceeds, as per the court’s order, with the remainder distributed to Senda. The additional consideration brings the total deal value to $676.26 million, plus $20.29 million more payable by the purchaser.

This resolution follows a protracted legal battle between Kiri and Senda over minority oppression and valuation disputes, now culminating in one of the largest exits for an Indian company from a global dyes and chemicals leader.

DyStar, a market leader in the global dyes sector with robust financials and a debt-free balance sheet, remains operationally unaffected by the share sale, ensuring business continuity for its global clients.

Kiri Industries is expected to leverage this substantial cash inflow to fund its ambitious entry into the copper manufacturing sector, with plans for a major facility and expansion into new product lines, potentially doubling its enterprise value in the coming years.

This high-stakes deal not only resolves a decade-long dispute but also positions Kiri Industries for a new era of growth and diversification.

Sources: Textile Excellence, Kiri Industries, Business Standard

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