Kiri Industries Receives US$689 Million from DyStar Stake Sale, Concludes Decade-Long Legal Battle

Kiri Industries Limited received the full consideration of US$689.03 million following the en bloc sale of its entire 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd. This marks the successful conclusion of a long-running legal dispute before the Singapore Courts. The amount received includes purchase consideration, share buyback proceeds, interest, and costs awarded by the Singapore International Commercial Court. The DyStar proceedings were initiated by the Company in 2015 to protect its rights as a minority shareholder. The Company incurred significant legal expenses during this period, reflecting the complexity and multi-jurisdictional nature of the proceedings. A portion of these costs has been awarded for recovery as part of the final court outcome. The resolution of the DyStar matter is expected to materially reduce ongoing legal expenses and enable management to focus fully on Kiri Industries Limited’s core businesses, diversification initiatives, and long-term growth strategy.