Dystar Aquired by Zhejiang Longsheng Group
Dystar has become a wholly owned subsidiary of Zhejiang Longsheng Group following the $688.9 million buyout of KIRI Industries’ 37.5% stake, marking the end of a long shareholder dispute and a new phase of unified governance and growth.
Dystar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, 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.
Under the Share Buy-Back Agreement, a total consideration of $688.9 million was paid to acquire the 37.5% shareholding previously owned by KIRI Industries. Of this amount, Dystar contributed $426,5 million, while Zhejiang Longsheng Group’s wholly owned subsidiary, Sende International Capital, contributed $262.4 million. Court-appointed receivers confirmed the transaction on December 30, 2025.
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.
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.”
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.”
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.
