浙江龙盛50亿收购全球染料巨头 十年股权交易纠纷迎来终局？

Core Viewpoint - Zhejiang Longsheng plans to acquire a 37.57% stake in DyStar from KIRI for $697 million, which will make DyStar a wholly-owned subsidiary, potentially ending a nearly decade-long legal dispute with KIRI [2][3][4] Group 1: Acquisition Details - The acquisition price of$697 million (approximately 5.02 billion RMB) is significantly higher than previous valuations, reflecting the rising value of DyStar's shares over the years [2][3] - DyStar is a leading provider of high-end dye and chemical solutions, and the acquisition is seen as a strategic move to consolidate resources and eliminate potential shareholder disputes [4][5] Group 2: Historical Context - DyStar faced bankruptcy in 2010 and was acquired by KIRI for €40 million, while Zhejiang Longsheng initially invested €22 million in KIRI's convertible bonds, later converting to a 62.43% stake in DyStar [3][4] - A series of legal battles began in 2015 when KIRI accused Zhejiang Longsheng of oppressing minority shareholders, leading to multiple court rulings that increased the valuation of the stake [3][4] Group 3: Financial Performance - Zhejiang Longsheng's revenue and profit have fluctuated significantly from 2020 to 2024, with a notable decline in 2023 due to intense market competition and price pressures [6][7] - The company reported a revenue of 156.05 billion RMB in 2020, down 26.96% year-on-year, and a net profit of 41.76 billion RMB, down 16.86% [6] - In 2024, the company anticipates a rebound with projected revenue of 158.84 billion RMB, a slight increase of 3.80%, and a net profit of 20.30 billion RMB, reflecting a growth of over 30% [7]