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Sunday, October 12, 2014

Walt Disney rescues Euro Disney with $1.3 billion funding deal

Per www.foxbusiness.com:


Walt Disney Co (DIS) has come to the rescue of its loss-making subsidiary Euro Disney with a 1 billion-euro ($1.3 billion) funding deal announced on Monday, which could give the U.S. group total control over Europe's biggest tourist attraction.

The deal includes a rights issue and debt restructuring which will inject 420 million euro in cash into the Euro Disney group and eliminate 600 million euros of its debt owed to Walt Disney via an equity swap.

Euro Disney is currently 40 percent owned by Walt Disney and 10 percent by the Saudi prince AlWaleed bin Talal with the rights issue to raise 351 million euros open to all shareholders but backed by Walt Disney, which will be required to make a tender offer for the whole company.

For more, see: http://www.foxbusiness.com/industries/2014/10/06/walt-disney-rescues-euro-disney-with-13-billion-funding-deal/

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