US$689.03 million divestment of DyStar Global Holdings (Singapore) Pte. Ltd. by Kiri Industries Limited
Allen & Gledhill, as transaction counsel, advised Kiri Industries Limited (“Kiri”), a specialty chemical firm listed on Bombay Stock Exchange and National Stock Exchange, on the US$689.03 million divestment (“Divestment”) of its entire 37.57% stake in DyStar Global Holdings (Singapore) Pte. Ltd (“DyStar”), a global market leader in the textile chemicals industry, by a combination of a share sale and a share buyback.
The transaction brought to a close a highly complex, multi-jurisdictional legal dispute spanning over a decade, conclusively ending Kiri’s association with DyStar.
Advising Kiri on the Divestment were Allen & Gledhill Partners Nicholas Soh and Kenneth S Lim.
A separate team, led by Allen & Gledhill Partner Dinesh Dhillon, represented Kiri in the contentious proceedings.
