Toys"R"Us ANZ Faces Uncertainty as DOCA Triggers Ownership Change and ASX Exit
Toys"R"Us ANZ has formalised a Deed of Company Arrangement, paving the way for Directed Electronics Australia to acquire the company and trigger its delisting from the ASX.
- DOCA executed following creditor approval
- Directed Electronics Australia to acquire all issued shares
- Company officers to be replaced under new arrangement
- Delisting from the ASX planned post-acquisition
- Acquisition subject to court and ASIC approvals
Background and Context
Toys"R"Us ANZ Limited, a familiar name in the Australian retail toy sector, has taken a significant step in its corporate restructuring journey. Following a creditors meeting in early July 2025, the company has executed a Deed of Company Arrangement (DOCA) as of 31 July 2025. This move comes after creditors approved a proposal from Directed Electronics Australia Pty Ltd to acquire all issued shares in the company.
Key Terms of the Arrangement
The DOCA outlines several critical changes. Most notably, all issued shares of Toys"R"Us ANZ will transfer to Directed Electronics Australia, pending necessary court approval under section 444GA of the Corporations Act and relief from the Australian Securities and Investments Commission (ASIC). This acquisition is not merely a change of ownership but also involves a restructuring of the company's leadership, with officers set to be replaced as part of the arrangement.
Another consequential aspect is the planned delisting of Toys"R"Us ANZ from the Australian Securities Exchange (ASX). This will mark the end of the company’s public trading status, signaling a new chapter as a privately held entity under Directed Electronics Australia’s control.
Implications for Stakeholders
For creditors, the establishment of a Creditors' Trust Deed as part of the DOCA provides a structured framework for managing outstanding claims. Employees, suppliers, and other stakeholders will be watching closely as the company transitions through this phase, with potential impacts on operations and contractual relationships.
The involvement of BDO as Deed Administrators and the communication channels established for creditors and employees underscore the company’s commitment to transparency during this complex process.
Looking Ahead
While the execution of the DOCA marks a milestone, the acquisition remains contingent on regulatory approvals. The court’s decision and ASIC’s relief will be pivotal in finalising the transaction. Market participants will also be attentive to how the delisting affects shareholder value and the company’s strategic direction under new ownership.
Bottom Line?
The next phase hinges on regulatory green lights, setting the stage for a reshaped Toys"R"Us ANZ beyond the ASX spotlight.
Questions in the middle?
- When will court and ASIC approvals be finalised to complete the acquisition?
- How will the management overhaul affect the company’s operational strategy?
- What are the implications for existing shareholders and creditors post-delisting?
