Donaco International (ASXNA) continues to progress the proposed US$360 million acquisition of Star Vegas Resort and Club in Cambodia with conditions being resolved.
It also confirmed that it has signed a binding commitment letter with Taiwan’s Mega International Commercial Bank Co., Ltd for the US$100 million commercial loan facility in relation to the acquisition.
The consideration for the acquisition of Star Vegas consists of:
- The issue of 147,199,529 DNA shares;
- US$40 million from existing cash reserves;
- US$100 million from the bank facility; and
- US$100 million from the completed entitlement offer.
The acquisition provides enhanced scale and diversification, as well as immediate and meaningful earnings per share accretion.
Star Vegas is the newest luxury Poipet casino hotel, and is located on the Thailand border, with the primary clientele being Thai nationals
Wednesday, March 11, 2015 by Proactive Investors
SOURCE http://www.*.com.au/companies/news/...sition-of-cambodia-resort-and-club-61194.html
Donaco International moving ahead with acquisition of Cambodia resort and club
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