Disney boosts stake in Paris theme park | Fin24
 
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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.

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