Longsheng takes next steps towards full DyStar ownership

SINGAPORE – China’s Zhejiang Longsheng Group has taken the next step towards the $689 million full purchase of textile dyestuffs giant DyStar from India’s Kiri Industries through the deposition of a $3.48 million deposit.

This down payment now paves the way for DyStar majority share owner Longsheng to acquire the remaining 37.57% of the issued shares in DyStar Global Holdings (Singapore) that are still held by Kiri.