Euro Disney (EDL.PA) , which operates Disneyland Paris, on Tuesday approved a recapitalization plan to raise one billion euros ($1.18 billion) to revive the struggling theme park burdened by huge debt and fewer visitors. At a general assembly meeting in Paris, the stakeholders present voted in favour of a series of measures including 420 million euros of fresh funds from the US parent group, The Walt Disney Company (DIS). The plan also calls for an increase in capital which will be open to shareholders and the conversion of some 600 million euros of debt into equity. The moves will leave the US Disney group holding at least a 70 percent stake in EuroDisney, with Saudi Prince Al-Walid remaining the second biggest shareholder. Source
Recapitalization
