Disney boosts stake in Paris theme park | Fin24
  • Credit Rating

    Moody's has (again) said that weak state-owned entities are a risk to SA's sovereign credit rating.

  • SARS Inquiry

    Judge Nugent has recommended the president sack suspended SARS boss Tom Moyane.

  • Nene Rand Rollercoaster

    Simon Brown says savvy investors worked out how the rand would react to uncertainty at Treasury.


Disney boosts stake in Paris theme park

Feb 10 2017 10:31
Ville Heiskanen

Helsinki - Walt Disney boosted its holding in its Paris theme park to 85.7% by acquiring a stake from Prince Alwaleed Bin Talal, and offered to acquire the rest as it seeks to revive the resort’s popularity.

Disney is acquiring a 9% stake in Euro Disney SCA from Alwaleed’s Kingdom for €2 apiece, payable in Disney stock. It’s offering €2 in cash for the rest, according to a statement on Friday. That’s 67% more than Euro Disney’s closing price on Thursday.

Disney also said it is committed to support Euro Disney’s recapitalisation of up to €1.5bn. The Paris resort’s finances were negatively affected by the 2015 Paris terrorist attacks and the challenging business conditions that continued through 2016, Burbank, California-based Disney said.

Euro Disney had a market value of €940m as of Thursday’s close.

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

disney  |  travel and leisure


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The appointment of Tito Mboweni will:

Previous results · Suggest a vote