Kiri Industries Limited Discharges DyStar Share Sale Agreements After Receiving Full Payment
Kiri Industries Limited (the Company) announced on December 31, 2025, that it has been informed of the remittance of the entire consideration amounting to US$689,034,072.68 for the en bloc sale of its...
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Why is Kiri Industries Limited in the news today?
Kiri Industries Limited (KIRIINDUS) is in the news due to the company has successfully completed the sale of its stake in dystar and received the full payment, which is a positive financial event.
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Kiri Industries Limited Discharges DyStar Share Sale Agreements After Receiving Full Payment
December 31, 2025, 08:35 AM
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Kiri Industries Limited (the Company) announced on December 31, 2025, that it has been informed of the remittance of the entire consideration amounting to US$689,034,072.68 for the en bloc sale of its 37.57% equity stake in DyStar.
This development follows earlier intimations regarding the execution of a Share Purchase Agreement (SPA) dated May 29, 2025, and subsequent agreements including a Share Buy-Back Agreement dated December 12, 2025, a Framework Agreement dated December 12, 2025, and an Amended and Restated Share Purchase Agreement dated December 13, 2025.
As the full consideration has been received, the SPA and the Share Buy-Back Agreement have been discharged by performance. Consequently, DyStar has ceased to be an Associate Company of Kiri Industries Limited. The transaction involved the Company, Zhejiang Longsheng Group Co., Ltd. as the Purchaser, and court-appointed receivers Mr. Matthew Stuart Becker, Mr. Lim Loo Khoon, and Mr. Tan Wei Cheong of Deloitte & Touche LLP.
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