Investors at Donaco approve the deal for the acquisition of On Nut Road
Hong Kong-based On Ut Road Takes Over Donaco International
After months of anticipation, the Supreme Court of New South Wales has approved On Ut Road Limited's takeover scheme for Donaco International, paving the way for the acquisition to be completed [1][2][3]. The court's orders have been lodged with the Australian Securities and Investments Commission (ASIC), making the scheme legally effective as of August 8, 2025 [1][3][4].
The acquisition offer, originally put forward by On Ut Road, a company backed by Argyle, values Donaco International at a higher price than its current market value [1][2][4]. The deal, worth approximately $36 million USD, represents a premium of about $0.029 per share for Donaco's shareholders [1][2][5].
Trading in Donaco shares on the Australian Stock Exchange (ASX) was suspended at the close of August 8, 2025 [3][4]. Shareholders of Donaco as of 5:00 pm (AEST) on August 12, 2025, will receive A$0.045 cash per share as scheme consideration [3][4]. The payment to eligible shareholders is scheduled for August 19, 2025 [3][4]. Donaco will be officially delisted from the ASX on August 20, 2025, at 4:00 pm [3][4].
The acquisition has received overwhelming shareholder approval, with over 98% voting in favour of the deal [1][2][5]. On Ut Road already owned a 12.84% stake in Donaco before this transaction and will obtain full ownership with this scheme [1][2][4].
The Donaco board has expressed full support for the transaction. The board cites several reasons for their support, including regional uncertainty in Donaco's business in Cambodia due to power disruptions, tax uncertainty in the same country, and the ongoing Thai border restrictions that have limited the flow of customers to Donaco's Cambodia-based Star Vegas Resort & Club [6].
The approval of the acquisition indicates a strong confidence in Donaco's long-term potential. With the legal hurdles now cleared, the acquisition process is now in its final implementation phase, with completion and delisting expected by August 19–20, 2025 [1][2][3][4].
Now that the acquisition is legally effective, On Ut Road is planning to invest in Donaco International's business operations to enhance their financial standing. The successful takeover also provides a prime opportunity for On Ut Road to expand its own business portfolio in the finance and investing sectors.
