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NEWS
Debt deadline extension for Euro Disney
POSTED 03 Aug 2004 . BY
Euro Disney SCA, the operator of the Disneyland Paris theme park operator, announced yesterday that it has missed the deadline on its 2.4bn euro financial restructuring plan.

The company also issued a profits warning, which led to shares in the group falling by 12.9 per cent.

In June of this year, the debt-ridden operator had agreed a draft deal with its principal creditors to restructure its finances. The deal was between The Walt Disney Company, Caisse des Déspôts et Consignations and a steering committee of its other lenders.

However, the deal was subject to the unanimous approval of lenders by 31 July to become effective and Euro Disney announced yesterday that, following its failure to reach agreement with “certain lenders” regarding its debt, the deadline to reach agreement will now been extended to 30 September.

If a deal can be made, it will become the second debt restructuring that Euro Disney has undergone in the past 10 years.

The group also announced yesterday that sales for the nine months to June 30 were down by 1 per cent to 740.4m euros.

The Senior vice president and chief financial officer of Euro Disney SCA, Jeffrey R. Speed, said: “While the financial restructuring process is continuing in order to obtain lender consent, we continue to believe that a prompt resolution remains in the best interest of all stakeholders.

“We are intent on achieving resolution as soon as possible, thereby allowing the company’s resources to be focused entirely on profitably growing the business.” Details: www.eurodisney.com

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NEWS
Debt deadline extension for Euro Disney
POSTED 03 Aug 2004 . BY
Euro Disney SCA, the operator of the Disneyland Paris theme park operator, announced yesterday that it has missed the deadline on its 2.4bn euro financial restructuring plan.

The company also issued a profits warning, which led to shares in the group falling by 12.9 per cent.

In June of this year, the debt-ridden operator had agreed a draft deal with its principal creditors to restructure its finances. The deal was between The Walt Disney Company, Caisse des Déspôts et Consignations and a steering committee of its other lenders.

However, the deal was subject to the unanimous approval of lenders by 31 July to become effective and Euro Disney announced yesterday that, following its failure to reach agreement with “certain lenders” regarding its debt, the deadline to reach agreement will now been extended to 30 September.

If a deal can be made, it will become the second debt restructuring that Euro Disney has undergone in the past 10 years.

The group also announced yesterday that sales for the nine months to June 30 were down by 1 per cent to 740.4m euros.

The Senior vice president and chief financial officer of Euro Disney SCA, Jeffrey R. Speed, said: “While the financial restructuring process is continuing in order to obtain lender consent, we continue to believe that a prompt resolution remains in the best interest of all stakeholders.

“We are intent on achieving resolution as soon as possible, thereby allowing the company’s resources to be focused entirely on profitably growing the business.” Details: www.eurodisney.com

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
Debt deadline extension for Euro Disney
POSTED 03 Aug 2004 . BY
Euro Disney SCA, the operator of the Disneyland Paris theme park operator, announced yesterday that it has missed the deadline on its 2.4bn euro financial restructuring plan.

The company also issued a profits warning, which led to shares in the group falling by 12.9 per cent.

In June of this year, the debt-ridden operator had agreed a draft deal with its principal creditors to restructure its finances. The deal was between The Walt Disney Company, Caisse des Déspôts et Consignations and a steering committee of its other lenders.

However, the deal was subject to the unanimous approval of lenders by 31 July to become effective and Euro Disney announced yesterday that, following its failure to reach agreement with “certain lenders” regarding its debt, the deadline to reach agreement will now been extended to 30 September.

If a deal can be made, it will become the second debt restructuring that Euro Disney has undergone in the past 10 years.

The group also announced yesterday that sales for the nine months to June 30 were down by 1 per cent to 740.4m euros.

The Senior vice president and chief financial officer of Euro Disney SCA, Jeffrey R. Speed, said: “While the financial restructuring process is continuing in order to obtain lender consent, we continue to believe that a prompt resolution remains in the best interest of all stakeholders.

“We are intent on achieving resolution as soon as possible, thereby allowing the company’s resources to be focused entirely on profitably growing the business.” Details: www.eurodisney.com

 


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