Kiri Dyes may acquire Germany based Dystar

Ahmedabad based Kiri Dyes and Chemicals is in advanced stages of negotiation for acquiring the Germany based Dystar group. the global market leader for dyes and textile solutions that filed for insolvency a couple of months earlier for some of its subsidiaries. the deal size is estimated to be about Rs 698 - 873 crores including the liabilities. the deal is expected to be complete by the end of this year.
Dystar clocked sales of Rs 5440 crore in the 2008 calendar year. the global dyes intermediates market is estimated at $23 billion and is expected to grow at 2% per annum.