Disney makes offer to Hong Kong park

Studio promises funds for struggling Disneyland

HONG KONG — Disney is offering to fund expansion at the money-losing Hong Kong Disneyland theme park.

But plans to develop the site have yet to be approved by Hong Kong’s government, which is the park’s majority owner, and it may demand changes in the shareholding structure.

The Mouse House’s commitment was made clear Monday in a submission to Legco, the territory’s equivalent of a parliament, by HKDL managing director Andrew Kam Min-ho.

“Hong Kong Disneyland Resort is the first priority of the Walt Disney Co.’s investment in Asia. Despite the economic uncertainty, we are confident of the growth potential of the resort,” Kam said.

The funding offer is separate from the HK$3.26 billion ($420 million) that Disney loaned the park to repay commercial loans that were due in September to 26 banks.

The park has had 15 million visitors since opening in September 2005.

— Patrick Frater

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