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Kiri Industries Limited ( (IN:KIRIINDUS) ) has issued an announcement.
Kiri Industries Limited has completed the en bloc sale of its entire 37.57% equity stake in DyStar Global Holdings (Singapore) Pte. Ltd. to Zhejiang Longsheng Group Co., Ltd., following a Singapore International Commercial Court order directing the sale of shareholdings held by Kiri and Senda International Capital. The company confirmed receipt of the full consideration of about US$689 million, resulting in the discharge by performance of the Share Purchase Agreement and associated Share Buy-Back Agreement, formally closing its long-running financial and legal exposure related to DyStar and potentially reshaping its balance sheet, capital allocation flexibility and strategic focus for shareholders and other stakeholders.
More about Kiri Industries Limited
Kiri Industries Limited is an Indian chemical company engaged in the manufacture of dyes, dye intermediates and related specialty chemicals, serving global textile and industrial markets. The company has historically held a strategic minority stake in DyStar Global Holdings (Singapore) Pte. Ltd., a major player in the global dyes and chemicals sector, aligning its business with international downstream customers in textiles and related industries.
Average Trading Volume: 25,569
Technical Sentiment Signal: Strong Buy
Current Market Cap: 36.7B INR
For an in-depth examination of KIRIINDUS stock, go to TipRanks’ Overview page.