SINGAPORE – The Singapore International Commercial Court has ordered the sale of DyStar by its joint shareholders Kiri Industries and Senda International Capital Limited – a wholly owned subsidiary of the Zhejiang Longsheng Group – after a long legal dispute between the two.
Importantly, the court has ordered the en-bloc sale of 100% of DyStar’s shares – which could still take several years to finally complete – with any restructuring. The company is not expected to be broken up.
