Kakao Games' largest shareholder changes to LY-backed investment firm | Yonhap News Agency

## Summary
OK SEOUL, March 25 (Yonhap) -- Kakao Games Corp. said Wednesday its largest shareholder will change to an investment purpose company backed by Japan's tech firm LY Corp. as part of the gaming company's equity restructuring for global expansion. LAAA Investment will acquire part of the stake owned by Kakao Corp. and participate in Kakao Games' capital increase and the issuance of convertible bonds worth a combined 300 billion won (US$200.4 million), the company said in a release. Once the transactions are completed in May, LAAA Investment will become the largest shareholder of the gaming company, with Kakao becoming the second-largest shareholder. Korea's new parliament prev Kakao Games' largest shareholder changes to LY-backed investment firm Next Kakao Games' largest shareholder changes to LY-backed investment firm

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SEOUL, March 25 (Yonhap) -- Kakao Games Corp. said Wednesday its largest shareholder will change to an investment purpose company backed by Japan's tech firm LY Corp. as part of the gaming company's equity restructuring for global expansion.
LAAA Investment will acquire part of the stake owned by Kakao Corp. and participate in Kakao Games' capital increase and the issuance of convertible bonds worth a combined 300 billion won (US$200.4 million), the company said in a release.
Once the transactions are completed in May, LAAA Investment will become the largest shareholder of the gaming company, with Kakao becoming the second-largest shareholder.
Currently, Kakao is the largest shareholder of Kakao Games, with a 37.6 percent stake.
Kakao Games said it expects the restructuring to help boost business momentum in global markets and expand its gaming portfolio through broader collaboration opportunities.
"We will expand new growth opportunities in the global market through collaboration with partners, including Kakao and LY," the company said.
The corporate logo of Kakao Games Corp. (PHOTO NOT FOR SALE) (Yonhap)
brk@yna.co.kr
(END)
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Kakao Games' largest shareholder changes to LY-backed investment firm

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## Expert Analysis

### Merits
- Korea, China, Italy, Belgium: reports (LEAD) Gov't to strictly enforce five-day vehicle rotation system for public sector (LEAD) Trump says Iran has given U.S. 'very significant prize' related to oil, gas Most Viewed More Most Viewed Photos N.

### Areas for Consideration
- Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' 'BTS: The Return' captures brotherhood under 'heavy crown': director Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms 'BTS: The Return' captures brotherhood under 'heavy crown': director Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Downtown Seoul to enter security lockdown for massive crowd at BTS concert Most Viewed All Categories (4th LD) N.

### Implications
- OK SEOUL, March 25 (Yonhap) -- Kakao Games Corp. said Wednesday its largest shareholder will change to an investment purpose company backed by Japan's tech firm LY Corp. as part of the gaming company's equity restructuring for global expansion.
- LAAA Investment will acquire part of the stake owned by Kakao Corp. and participate in Kakao Games' capital increase and the issuance of convertible bonds worth a combined 300 billion won (US$200.4 million), the company said in a release.
- Once the transactions are completed in May, LAAA Investment will become the largest shareholder of the gaming company, with Kakao becoming the second-largest shareholder.
- Kakao Games said it expects the restructuring to help boost business momentum in global markets and expand its gaming portfolio through broader collaboration opportunities. "We will expand new growth opportunities in the global market through collaboration with partners, including Kakao and LY," the company said.

### Expert Commentary
This article covers kakao, games, korea topics. Notable strengths include discussion of kakao. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 479.