The Walt Disney Company announced Tuesday that it had purchased more than 97 percent of the shares of Euro Disney SCA and will delist the company.
Euro Disney owned the Disneyland Paris Resort, but recent financial struggles at the theme park and the 2015 terrorist attacks in Paris have hurt business.
During February, the Walt Disney Company bought a nine percent stake from Saudi Prince Alwaleed Bin Talal’s Kingdom Holding Co. for two Euros a share in stock, according to Bloomberg.com. French stock market regulations allow Disney to force a mandatory buyout of the remaining shares it doesn’t own and will be allowed to delist the company on June 19. The remaining stock will be bought out for two Euros a share.
Disneyland Paris has struggled at times throughout its 25 years in existence, with the property being forced to consolidate debt into a loan from its parent company in 2012 and a pledge from Euro Disney during 2014 to dump at least one billion Euros over 10 years into the facility to add new rides and attractions.
Following the purchase of Alwaleed Bin Talal’s shares in February, officials from the Walt Disney Company said they would support the revitalization of the theme park for as much as 1.5 billion Euros.
When Disney completes the buyout, Disneyland Paris will be the first theme park the company completely owns outside the United States.
Disney opened the $5.5 billion Disney Shanghai Resort last year, but it is jointly owned by the local government. The same can be said for Hong Kong Disneyland, while the Tokyo Disney Resort is completely owned by the Oriental Land Co. and operated under license from Disney.
-From Travel Pulse News, June 14, 2017 by Donald Wood
Getting ready to plan your next trip or just interested in travel news?
Please remember to contact Destinations with Character Travel for ALL of your Disney, Universal, SeaWorld, and Orlando Area Vacations, Adventures by Disney, Cruising, Tour, and exciting vacation packages all over the world. When booking though Destinations with Character Travel, all of our Disney Services, including FastPass+ and Dining reservation services are completely FREE. Also, you will always have a DEDICATED agent, available to you 24/7 from the very first minute of planning, right up until the day you return home, to answer all of your questions and handle any of your vacation needs.
We believe no one should be denied a vacation based on needs or budget, there’s something for everyone.
- New from Ancestry® and Kensington Tours Personal Heritage Journeys – A journey unlike any other, one you will cherish forever. - March 2, 2021
- Great Deal for The Hard Rock Hotel & Casino in Punta Cana! - March 1, 2021
- Royal Caribbean Odyssey of the Seas – Inaugural Season Now Sailing From Haffa, Israel in May 2021 - March 1, 2021