Early bird
tickets
available now!
Job search
Job Search
Latest news
More news: (showing 1 - 20 of 13771)           
UK only International

Disney taking full ownership of Euro Disney with planned delisting

By Tom Anstey    14 Jun 2017
Crossing the 95 per cent ownership threshold means Disney can now force a mandatory buyout of remaining shares / Z1008 Jens Kalaene/DPA/PA Images

Disney has once again upped its stake in Euro Disney, increasing total ownership of Disneyland Paris to 97.08 per cent ahead of a planned stock market delisting.

The company is looking to regain full control of its Paris park, which despite being Europe’s most visited attraction has struggled financially in recent years, with the company carrying out a €1bn (US$1.06bn, £852m) restructuring of its debt in 2014.

Under the rules of France’s stock market, crossing the 95 per cent ownership threshold means Disney can now force a mandatory buyout of remaining shares, with the planned delisting to take place on 19 June.

“The mandatory buy-out will apply to all Euro Disney’s shares that the bidders do not own – 22,661,121 shares on the basis of a share capital of 783,364,900 shares,” said a statement.

“Euro Disney's shares will be delisted on 19 June 2017 after the closing of the markets, the date of implementation of the mandatory buy-out.”

Disney issued a rights issue open to all investors in 2015, with its third-largest stakeholder Invesco selling its 6 per cent stake in the business. At the time Disney owned 39.8 per cent of the park’s shares. In February, Disney increased its share to 85.7 per cent, with the purchase representing 90 per cent of Saudi Prince Alwaleed Bin Talal's Kingdom Holding’s shares.

Former Euro Disney president Tom Wolber, blamed a “continued economic softness, notably in France” on poor figures. The company and wider France have since struggled off the back of a string of terror attacks, most notably the November 2015 Paris attacks, which created “challenging business conditions in France and throughout Europe,” according to Disney.

Euro Disney  Disneyland Paris  visitor attractions  Kingdom Holdings  theme parks  stock market  Bob Iger  
Sign up for FREE ezines
Related news

Company profile

Company profile: TANITA
TANITA is the founder of Bioelectrical Impedance Analysis (BIA) being the first to bring a body fat analyser to the market.
View full profile >
More company profiles

Featured Supplier

Altrafit introduces custom functional fitness equipment at Third Space
Altrafit has taken further steps to cement its reputation as a provider of high-quality, affordable functional fitness equipment that is built to last with the development and introduction of a new functional fitness keg for luxury gym operator, Third Space.
View full details >
More featured suppliers

Property & Tenders

Location: Jersey
Company: Jersey War Tunnels
Location: Chiswick, Gillingham, York and Nottingham
Company: Savills
Location: Cleveland Lakes, Wiltshire and Gloucestershire
Company: Cotswold Lakes Trust
Location: Loughton, IG10
Company: Knight Frank
Location: Grantham, Leicestershire
Company: Belvoir Castle
More properties & tenders

Diary dates

03-05 Sep 2024
IMPACT Exhibition Center, Bangkok, Thailand
08-10 Sep 2024
Wyndham® Lake Buena Vista Disney Springs™ Resort, Lake Buena Vista, United States
19-19 Sep 2024
The Salil Hotel Riverside - Bangkok, Bangkok 10120, Thailand
20-22 Sep 2024
Locations worldwide,
More diary dates