Deloitte Singapore leads successful M&A sale of DyStar as SICC-appointed Receivers
SINGAPORE, 21 January 2026 – Deloitte Singapore is pleased to announce the successful completion of the sale of shares in DyStar Global Holdings Pte Ltd (“DyStar”) at an implied equity value of USD1.8 billion. Headquartered in Singapore and operating in over 50 countries, DyStar is widely recognised as a global leader in the manufacturing of dyes and chemicals.
Deloitte Singapore Strategy, Risk & Transactions (SR&T) Partners Matt Becker, Justin Lim and Tan Wei Cheong were appointed as Receivers by the Singapore International Commercial Court (SICC) to lead a merger & acquisition (M&A) sale process which resulted in a USD689 million recovery to Kiri Industries Limited for their 37% stake; resolving a long-running legal dispute between the shareholders.
Following the completion of the transaction, DyStar is now 100% owned by Zhejiang Longsheng Group Limited, a company listed on the Shanghai Stock Exchange and a global leader in the chemicals manufacturing industry.
“The landmark DyStar transaction demonstrates the value of the Deloitte platform bringing together leading restructuring, M&A and tax experts across our global network to deliver high value outcomes in complex special situations. We are delighted to see DyStar entering its next phase of growth with strong financial foundations and prospects,” said Matt Becker, Deloitte Singapore SR&T Partner.
WongPartnership and A&O Shearman acted as legal counsels to the Receivers.
At Deloitte Singapore, restructuring and M&A services are performed by the Strategy, Risk & Transactions business. Deloitte SR&T professionals have the capabilities to carry out integrated, end-to-end support and advisory on business transformation that include restructuring, M&A, valuation modelling, cost optimisation, restructuring, business design and transformation, infrastructure and real estate, and sustainability. Find out more here.
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