The proposal is designed to improve the financial position of Euro Disney and enable it to continue investing in the guest experience.
Context of the operation
Challenging economic conditions in Europe coupled with Euro Disney’s debt burden have negatively impacted its financial performance. Due to these factors, Euro Disney has been constrained in its ability to make investments in Disneyland Paris.
Details of the proposal
Objectives of the proposal
Euro Disney S.C.A. shareholders would have an opportunity to participate in the capital increases of Euro Disney S.C.A. alongside with Disney, at the same price.
As a result of the contemplated capital increases of Euro Disney S.C.A. and in accordance with applicable regulations, Disney would be required to launch a tender offer on Euro Disney S.C.A. shares.
Euro Disney S.C.A.’s Supervisory Board has expressed unanimous support for this proposal.
Indicative Timing of the operation and milestones
After the information and consultation of the Workers’ Council and the Shareholders’ approval during the general meeting of ED S.C.A.’s shareholders early 2015, the transactions contemplated by the proposal are expected to be completed in the first semester of calendar 2015.
More discussions to follow on Magical DLP