DyStar becomes wholly owned by Zhejiang Longsheng Group after dispute resolution
DyStar has formally confirmed that it is now a wholly owned subsidiary of Zhejiang Longsheng Group Co., Ltd., following the full resolution of a long-running shareholders’ dispute. The development brings ownership clarity, a simplified governance structure, and a more stable platform for the company’s future growth.
The change in ownership follows a series of agreements signed in mid-December 2025. These include a Share Buy-Back Agreement and a Framework Agreement dated December 12, as well as an amended Share Purchase Agreement signed on December 13, updating an earlier agreement from May 2025. Together, these steps paved the way for Zhejiang Longsheng to take full control of DyStar.
Under the Share Buy-Back Agreement, DyStar acquired the 37.5 per cent shareholding previously held by KIRI Industries. The total consideration for the transaction amounted to USD 688.88 million. DyStar contributed USD 426.52 million toward the buy-back, while Sende International Capital Limited, a wholly owned subsidiary of Zhejiang Longsheng Group, provided USD 262.36 million.
The transaction was confirmed on December 30, 2025, by court-appointed receivers Deloitte & Touche Financial Advisory Services Pte Ltd. Completion and closing were effected on the same day, bringing the ownership process to a formal close.
With the transaction completed, all legal proceedings between Zhejiang Longsheng and KIRI Industries relating to DyStar’s shareholding have been settled. As part of the transition, the two directors previously appointed by KIRI have resigned from DyStar’s Board of Directors. This step further consolidates governance under a single shareholder and removes uncertainties that had surrounded the company in recent years.
DyStar, which has a history of more than 100 years in specialty chemicals for the textile and related industries, now operates with full ownership under Zhejiang Longsheng Group. The company stated that this structure will allow clearer decision-making and stronger alignment between shareholder strategy and operational priorities.
Commenting on the development, Mr Ruan Weixiang, Chairman of the Board of Directors of DyStar Group, said the conclusion of the transaction aligns with Longsheng’s long-term objectives in specialty chemical production. He added that a unified structure is expected to strengthen DyStar’s consolidated performance as the group moves forward together.
Mr Xu Yalin, Managing Director and President of DyStar Group, described the resolution as a pivotal milestone for the company. He noted that full ownership and unified governance place DyStar in a stronger position to reinforce its global operations, advance product development, and create steady value for customers, partners, and employees.
DyStar also reaffirmed its commitment to transparency in its communications with stakeholders. The company said it plans to maintain open engagement as it enters this next phase, with continued focus on operational consistency, sustainability initiatives, and long-term partnerships across its global markets.
With ownership issues now resolved, DyStar’s leadership believes the company can concentrate fully on its core business, serving customers worldwide while building on its established presence in dyes, chemicals, and solutions for the textile value chain.
