Kiri Industries to Sell 37.57% Stake in DyStar to Zhejiang Longsheng Group for USD 696,547,800

Kiri Industries Ltd has entered into a Share Purchase Agreement (SPA) with Zhejiang Longsheng Group Co. Ltd to sell 37.57% of the paid-up share capital of DyStar Global Holdings (Singapore) Pte. Ltd for a base consideration of USD 676,260,000. An additional consideration of USD 20,287,800 is payable by the Purchaser to address any shortfall in the base consideration or to fulfil the Purchaser’s obligations under the SPA. The total consideration for the transaction may also be further adjusted pursuant to the terms of the SPA. The transaction is subject to customary closing conditions and, where applicable, regulatory approvals.