DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, today formally announced that DyStar is now under the full ownership of Zhejiang Longsheng Group, following the conclusive resolution of its shareholders’ dispute. This milestone marks a new chapter of stability, governance clarity, and long-term growth for the Group.
The resolution was achieved through a series of agreements: the Share Buy-Back Agreement dated December 12, 2025, the Framework Agreement dated December 12, 2025, and the Amended and Restated Share Purchase Agreement dated December 13, 2025, which amended the original Share Purchase Agreement dated May 29, 2025.
Under the Share Buy-Back Agreement, a total consideration of USD 688,879,511.69 was paid to acquire the 37.5% shareholding previously owned by KIRI Industries. Of this amount, DyStar contributed USD 426,519,921.56, while Zhejiang Longsheng Group Co., Ltd.’s wholly owned subsidiary, Sende International Capital Limited, contributed USD 262,359,590.13.
On December 30, 2025, the transaction was confirmed by the court-appointed receivers, Deloitte & Touche Financial Advisory Services Pte Ltd, with completion and closing effected on the same day.
Following completion, all litigation between the Zhejiang Longsheng and KIRI Industries relating to DyStar’s shareholding has been concluded. The two directors appointed by KIRI have resigned from the DyStar Board of Directors, further consolidating governance and control. DyStar is now 100% wholly owned subsidiary of Zhejiang Longsheng Group Co., Ltd.
DyStar Chairman Welcomes Resolution
Mr Ruan Weixiang, Chairman, Board of Directors, DyStar Group said, “We are delighted with the successful conclusion of this transaction as it is consistent 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.”
Mr. Xu Yalin, Managing Director and President of DyStar Group commented, “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.”
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DyStar Group remains committed to transparency and will continue to engage openly with stakeholders as it embarks on its next phase of growth. The Group looks forward to building stronger partnerships, advancing sustainability initiatives, and delivering enhanced value across its global operations.
