Monalisa Co., a major South Korean toilet paper company, announced that it has been acquired by Indonesian paper-manufacturing company Arch Peninsula SDN.BHD. The acquisition was made through NHPEA Tissue Holdings AB, the largest shareholder of MSS Holdings Co., which is a major affiliate of Monalisa. The agreement to sell the entire stake in MSS to the Indonesian firm was signed on Saturday, with the finalization of the share purchase agreement pending the satisfaction of preceding conditions and obtaining approval for integration. The company did not disclose the value of the contract or other details. As of the end of 2023, MSS Holdings held a 50.99 percent stake in Monalisa. Following the announcement, shares in Monalisa surged by 23 percent to 5,110 won ($3.7) on Tuesday, significantly outperforming the broader Korea Composite Stock Price Index's 0.8 percent loss. The acquisition marks a significant development for Monalisa as it transitions under the ownership of Arch Peninsula SDN.BHD, signaling potential changes and growth opportunities for the company in the future.