Aluasia Limited agreed to acquire a 45.2% stake in AluAsia Co., Ltd from Aluko Co., Ltd. (KOSE:A001780) for KRW 47.4 billion on August 18, 2020. As part of the consideration, Aluasia Limited will acquire 9,136,453 of AluAsia Co., Ltd and transfer 18,272,906 shares to AluAsia Co., Ltd. Board of directors of Aluko Co., Ltd. resolved the transaction and expected completion date is August 18, 2020.