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NEWS
Walt Disney secures future of Euro Disney with €1bn refinancing
POSTED 06 Oct 2014 . BY Tom Anstey
Euro Disney has agreed a €1bn (US$1.2bn, £785m) restructuring of debt, with the Paris-based theme park receiving backing from its largest shareholder – Walt Disney.

Walt Disney owns 39.8 per cent of the park’s shares, with a further 10 per cent in the hands of Saudi tycoon Prince Alwaleed. The third-largest investor is Invesco, which owns a 5 per cent stake in Euro Disney.

Euro Disney has said that it will embark on a €420m (US$527m, £329m) rights issue open to all investors, backed by Walt Disney, which will improve the financial state of the park by €250m (US$314m, £196m).

In addition, around €600m (US$753m, £470m) of the group's debt owed to Walt Disney will be converted into equity, while credit lines extended to Euro Disney by its parent will also be consolidated.

Following the announcement, shares which started the day at €3.46 saw a sharp fall to €2.91 and bottomed out at €2.71, before stabilising at around €2.77.

The park’s refinancing comes despite estimates from Euro Disney that the new Ratatouille attraction which opened in July would boost finances by €32m (US$40m, £25.1m).

Euro Disney is still Europe’s most-visited tourist attraction, though attendance last year slipped by 6.9 per cent to 14.9 million visitors, with French visitors making up 51 per cent of guests.

Euro Disney’s next major boost is expected to come in 2016, when it will open a new leisure complex, Villages Nature – a sustainable vacation destination concept in partnership with holiday apartment rental company Pierre et Vacances.

RELATED STORIES
French Prime Minister breaks ground on Euro Disney's 'organic city' resort


French Prime Minister Manuel Valls yesterday afternoon (11 December) attended the breaking ground ceremony for the €700m (US$871m, £554m) Villages Nature, a joint venture between Euro Disney and Pierre & Vacances- Center Parcs Group.
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AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 

Jobs . News . Products . Magazine  
Post your job online   Free sign up   Contact us
NEWS
Walt Disney secures future of Euro Disney with €1bn refinancing
POSTED 06 Oct 2014 . BY Tom Anstey
Euro Disney has agreed a €1bn (US$1.2bn, £785m) restructuring of debt, with the Paris-based theme park receiving backing from its largest shareholder – Walt Disney.

Walt Disney owns 39.8 per cent of the park’s shares, with a further 10 per cent in the hands of Saudi tycoon Prince Alwaleed. The third-largest investor is Invesco, which owns a 5 per cent stake in Euro Disney.

Euro Disney has said that it will embark on a €420m (US$527m, £329m) rights issue open to all investors, backed by Walt Disney, which will improve the financial state of the park by €250m (US$314m, £196m).

In addition, around €600m (US$753m, £470m) of the group's debt owed to Walt Disney will be converted into equity, while credit lines extended to Euro Disney by its parent will also be consolidated.

Following the announcement, shares which started the day at €3.46 saw a sharp fall to €2.91 and bottomed out at €2.71, before stabilising at around €2.77.

The park’s refinancing comes despite estimates from Euro Disney that the new Ratatouille attraction which opened in July would boost finances by €32m (US$40m, £25.1m).

Euro Disney is still Europe’s most-visited tourist attraction, though attendance last year slipped by 6.9 per cent to 14.9 million visitors, with French visitors making up 51 per cent of guests.

Euro Disney’s next major boost is expected to come in 2016, when it will open a new leisure complex, Villages Nature – a sustainable vacation destination concept in partnership with holiday apartment rental company Pierre et Vacances.

RELATED STORIES
French Prime Minister breaks ground on Euro Disney's 'organic city' resort


French Prime Minister Manuel Valls yesterday afternoon (11 December) attended the breaking ground ceremony for the €700m (US$871m, £554m) Villages Nature, a joint venture between Euro Disney and Pierre & Vacances- Center Parcs Group.
MORE NEWS
Revealed: Opening date for Scotland's first design museum, created by Kengo Kuma
V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
Norwegian brewery partners with COBE to create Stavanger waterfront attraction
Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
Bayeux Tapestry coming to Britain for first time in 950 years
The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
More news>
LATEST JOBS
Casino Manager
Landers Recruitment
Salary: £30,000
Location: Manchester, United Kingdom
Director of Operations
WWT
Salary: £78,000 p.a.
Location: Slimbridge, Gloucestershire, United Kingdom
Head of Product Excellence
Legoland
Salary: Competitive
Location: Winter Haven, FL, United States
Customer Insights and Analytics Manager
Merlin Entertainments Group
Salary: Competitive
Location: New York, NY, United States
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Washington, DC, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

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NEWS
Walt Disney secures future of Euro Disney with €1bn refinancing
POSTED 06 Oct 2014 . BY Tom Anstey
Euro Disney has agreed a €1bn (US$1.2bn, £785m) restructuring of debt, with the Paris-based theme park receiving backing from its largest shareholder – Walt Disney.

Walt Disney owns 39.8 per cent of the park’s shares, with a further 10 per cent in the hands of Saudi tycoon Prince Alwaleed. The third-largest investor is Invesco, which owns a 5 per cent stake in Euro Disney.

Euro Disney has said that it will embark on a €420m (US$527m, £329m) rights issue open to all investors, backed by Walt Disney, which will improve the financial state of the park by €250m (US$314m, £196m).

In addition, around €600m (US$753m, £470m) of the group's debt owed to Walt Disney will be converted into equity, while credit lines extended to Euro Disney by its parent will also be consolidated.

Following the announcement, shares which started the day at €3.46 saw a sharp fall to €2.91 and bottomed out at €2.71, before stabilising at around €2.77.

The park’s refinancing comes despite estimates from Euro Disney that the new Ratatouille attraction which opened in July would boost finances by €32m (US$40m, £25.1m).

Euro Disney is still Europe’s most-visited tourist attraction, though attendance last year slipped by 6.9 per cent to 14.9 million visitors, with French visitors making up 51 per cent of guests.

Euro Disney’s next major boost is expected to come in 2016, when it will open a new leisure complex, Villages Nature – a sustainable vacation destination concept in partnership with holiday apartment rental company Pierre et Vacances.

RELATED STORIES
French Prime Minister breaks ground on Euro Disney's 'organic city' resort


French Prime Minister Manuel Valls yesterday afternoon (11 December) attended the breaking ground ceremony for the €700m (US$871m, £554m) Villages Nature, a joint venture between Euro Disney and Pierre & Vacances- Center Parcs Group.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS