NSW Court approves Donaco takeover by Hong Kong fund
On Nut Road Limited will acquire 100 per cent of the shares in Donaco that it does not already own.
Australia.- Donaco International has announced that the Supreme Court of New South Wales has approved the proposed scheme of arrangement under which On Nut Road Limited will acquire 100 per cent of the shares it does not already own.The projected effective date is tomorrow, with a scheme implementation date of August 19.
Last week, Donaco International received shareholder approval for the proposed acquisition by Argyle Street Management’s Hong Kong-based special-purpose investment vehicle.
Donaco operates the DNA Star Vegas resort in Poipet, Cambodia, and the Aristo International Hotel in Lao Cai, Vietnam. The company has seen challenges sine the pandemic. More recently, its flagship Cambodian property saw a steep revenue decline due to border and power supply disruptions. In Q2 2025, group EBITDA dropped 57 per cent year-on-year, with revenue at Star Vegas down to AU$4.31m (US$2.79m).
