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NEWS
Disney taking full ownership of Euro Disney with planned delisting
POSTED 14 Jun 2017 . BY Tom Anstey
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.
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NEWS
Disney taking full ownership of Euro Disney with planned delisting
POSTED 14 Jun 2017 . BY Tom Anstey
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.
RELATED STORIES
Theme Index: Disney dips as theme parks experience mixed year


Following a period of growth in 2015, the world’s top theme parks have experienced a mixed year, according to the latest edition of the TEA/AECOM Theme Index Report.
Disney delivers 'the impossible' with debut of Avatar land at Animal Kingdom


Disney has celebrated the launch of its new Avatar land at Animal Kingdom with the operator marking the occasion by hosting a ‘Dedication of Pandora’ at the Orlando theme park.
IPs and investment key to growing parks business, says Iger


Disney chair Bob Iger has said that the company must continue to incorporate its most popular IPs into its parks in order to help grow its business.
Double digit growth for Disney as Shanghai boosts results for quarter


Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).
MORE NEWS
National Aquarium worth more than US$450m to Maryland’s economy, study shows
The National Aquarium in Baltimore, Maryland, is the catalyst for US$455m (€386m, £345m) in economic activity across the state every year, a new study has shown.
IAAPA 2017: Brass Ring winners announced
IAAPA has announced its winners for this year’s Brass Ring Awards, recognising a number of companies at the annual IAAPA expo for their achievements in excellence across different parts of the industry.
Shaun the Sheep gets foothold in Japan's attractions market
Aardman has opened two Shaun the Sheep Family Farms in Japan, with one in Osaka and one in the east coast city of Sendai, Miyagi Prefecture.
IAAPA 2017: Creative force behind 'Star Wars: Galaxy's Edge' reveals details of immersive Disney project
Scott Trowbridge, the Disney Imagineer leading the creative vision for its Star Wars-themed projects, has revealed details of the operator’s planned Galaxy’s Edge lands, coming to California and Orlando in 2019.
More news>
LATEST JOBS
Chief Executive
Bristol Zoological Society
Salary: Competitive
Location: Bristol, United Kingdom
Visitor Experience and Site Support Manager
Woburn Safari Park
Salary: Competitive
Location: Woburn, United Kingdom
Head of Marketing
Blackpool Tower
Salary: Competitive
Location: Blackpool, United Kingdom
Centre Assistants - Lee Valley VeloPark
Vibrant Partnerships
Salary: Competitive Hourly Rate
Location: Olympic Park, London
Heritage Capital Project Manager
Tees Valley Combined Authority
Salary: £45,994 - £48,645 per annum
Location: Stockton-on-Tees, United Kingdom
Retail Operations Manager
Crealy Great Adventure Park and Resort
Salary: Up to £30,000 pa
Location: Exeter, United Kingdom



 
 
ADVERTISE . CONTACT US

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

©Cybertrek 2017

ABOUT LEISURE MEDIA
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NEWS
Disney taking full ownership of Euro Disney with planned delisting
POSTED 14 Jun 2017 . BY Tom Anstey
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.
RELATED STORIES
Theme Index: Disney dips as theme parks experience mixed year


Following a period of growth in 2015, the world’s top theme parks have experienced a mixed year, according to the latest edition of the TEA/AECOM Theme Index Report.
Disney delivers 'the impossible' with debut of Avatar land at Animal Kingdom


Disney has celebrated the launch of its new Avatar land at Animal Kingdom with the operator marking the occasion by hosting a ‘Dedication of Pandora’ at the Orlando theme park.
IPs and investment key to growing parks business, says Iger


Disney chair Bob Iger has said that the company must continue to incorporate its most popular IPs into its parks in order to help grow its business.
Double digit growth for Disney as Shanghai boosts results for quarter


Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).
 


ADVERTISE . CONTACT US

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

©Cybertrek 2017

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