Loa&Co Holdings said it has agreed to acquire control of KOSDAQ-listed Aloys, a company focused on media platforms, as the Loa&Co group seeks new growth engines.
The company said April 29 that it signed a share purchase agreement to buy a combined 6,994,990 common shares, or 20.20%, held by Aloys CEO Shin Jeong-gwan, the company’s largest shareholder, and research director Lee Si-young.
The total purchase price is 11.2 billion won, or 1,600 won per share. Once the deal is completed, Loa&Co Holdings will become Aloys’ largest shareholder, it said.
Loa&Co Holdings said it will keep Shin’s management structure in place in recognition of the current leadership’s expertise and will retain all employees to ensure business continuity. It also said it plans to quickly resolve a recent control dispute involving Aloys and build a stable management environment by forming a capable board.
The company said it will strengthen the global competitiveness of Aloys’ core business in OTT devices while expanding into next-generation media platform businesses that incorporate artificial intelligence. It said it plans to target global markets through AI-based content recommendations and platform upgrades.
An Aloys official said the transaction will change the largest shareholder and remove uncertainty over control. “Based on a transparent and stable governance structure, we will be able to accelerate execution of our mid- to long-term growth strategy,” the official said.
A Loa Holdings Company Group official called the investment a strategic decision to build a stable portfolio and said the group will actively support efforts to resolve Aloys’ control dispute and normalize management. “By combining the group’s content capabilities with Aloys’ technology, we will help it leap into a company that leads the AI-based media market,” the official said.
* This article has been translated by AI.
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