Disney Seeks Full Ownership of Disneyland Paris

Disneyland Paris gunman
David Fisher/REX Shutterstock

Disney is looking to buy out the remaining shares in Disneyland Paris, the theme park that has struggled with attendance since the November 2015 terrorist attacks in Paris.

Disney disclosed on Friday that it is poised to raise its ownership stake in the Euro Disney parent company to 85.7% after cutting a deal to buy the interest held by another Euro Disney investor, Kingdom Holding Co. Disney said it intends to launch a tender offer to scoop up the remaining shares that it does not own in order to take full control of its European theme park.

Disney has also pledged to invest as much as $1.6 billion in Disneyland Paris to improve financial conditions that have been “significantly and negatively impacted by the November 2015 events in Paris and the challenging business conditions that continued through 2016 in France and throughout Europe,” the company said.

Disneyland Paris had been hoping for an attendance boost tied to its 25th anniversary promotional events this year. The Euro Disney investors poured money into the park in 2014 to refurbish hotels and other facilities in time for the 25th anniversary push. But the dark cloud of the coordinated attacks in and around Paris that left at least 130 people has put a damper on attendance at the park.

“Today’s announcement reflects The Walt Disney Company’s continued confidence in Disneyland Paris and in France, and will enable Euro Disney to continue improving and investing in the Resort,” Disney said in a statement.

Disney’s cash tender offer for Euro Disney’s outstanding shares is valued at about $2.12 a share, which marks a 67% premium over the trading price on the Euronext Paris Stock Exchange as of Feb. 9. Disney hopes to complete the buyout and have Euro Disney shares delisted by June.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 5

Leave a Reply


Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

  1. N says:

    EuroDisney has been a disaster for years; badly run and a massive let down to those wanting a character meet and greet with small kids. 10yrs+ ago, characters would roam the park freely. Now to meet a character you have to queue for ages; and that is if you can find any at all. There is very little Disney magic in EuroDisney.

    Queue times for rides are measured in hours; and there is no entertainment in the queue’s whatsoever.

    All in all going to EuroDisney is a flat experience, the management and customer services are arrogant obnoxious and unhelpful; whilst the ground floor staff are very friendly and try their best.

    EuroDisney’s failure has nothing to do with the Paris attacks, look at the figures; they have been going down hill for years.

  2. pops says:

    The issue with Disney Land Paris is – I live in the UK im 1000 miles away from the park. SHOCKING to tell you but for me and a friend to go in March this year (2017) For 3 nights 4 days room only inc park tickets. It was going to cost £900. AND that had no travel on it. Its far far too dear to get there and get in and when you are in lack of investment and lack of attraction makes it a place people want to go but for all its faults dont go.

    • PS says:

      Ah. That’s the issue, because Disneyland is only for brits?? So it should be in the UK? You can get there by train. Also there are also cheaper Hotel options.

      • PPS says:

        To PS – not sure how you read that response to imply pops said it should be only for Brits or be in the UK. I think pops was just saying that it’s too pricey to go there (from wherever) for what you get.

  3. T. Barnes says:

    There is a word missing at the end of the fourth graf that I assume should be “dead” or similar: “… around Paris that left at least 130 people ___”

More Biz News from Variety