Economic
The actions of the Disney theme park lost more than 20% after announcing refinancing plan billion euros. This plan includes a capital increase of € 400 million and the conversion of 600 euros of debt to equity, according to Chessy, who runs the theme park in France. million “This recapitalization is essential to strengthen the financial soundness of Euro Disney and enable the group to continue to invest in the park” , said Tom Wolber, head of Euro Disney in a statement quoted by Bloomberg. He added that the adverse economic environment and the debt burden are penalizing revenue and profit. After known the plan, shares of Euro Disney were to fall about 18% to 2.85 euros in Paris, valuing the company at 112 million euros. The Walt Disney owns 40% Euro Disney and you may have to proceed with an offer on the entire European company if it increases its position in the capital increase process. Among the minority investors is Prince Al-Waleed bin Talal of Saudi Arabia, with 10%, which still is considering that will accompany the strengthening of capital of Euro Disney. The European theme park employs about 15,000 workers. This year, ticket sales will have fallen to about 14.2 million, compared to 14.9 million sold last year. And the occupancy rate at the hotel dropped from 79% in 2013 to 75% this year.
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