Kiri Industries Awarded Interest on $603.8 Million Buyout; Singapore Court Rejects Senda's Appeal

In a significant legal victory, Kiri Industries Ltd has been awarded interest on a $603.8 million buyout, following the Singapore International Commercial Court's (SICC) rejection of Senda International Capital Ltd's appeal. The court had previously ordered Senda to purchase Kiri's 37.57% stake in DyStar Global Holdings (Singapore) Pte Ltd due to oppressive conduct. Senda's failure to comply with the buyout order led to the court mandating an en bloc sale of both parties' shares, with Kiri receiving $603.8 million in priority from the sale proceeds. The recent ruling includes interest on this amount, further affirming Kiri's position in the protracted legal battle.