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BRIEF-Walt Disney company announces an increase in interest in Euro Disney

Published 2017-02-10, 01:42 a/m
© Reuters. BRIEF-Walt Disney company announces an increase in interest in Euro Disney

Feb 10 (Reuters) - Walt Disney Co DIS.N

* Walt Disney company announces an increase in its interest in Euro Disney

* Proposed transaction will increase Disney's interest in euro disney to 85.7 pct from 76.7 pct.

* Price for transaction is 2.00 euros per share and will be paid in shares of Disney common stock.

* Intention to make a cash tender offer for all remaining outstanding shares of Euro Disney at a price of 2.00 euros per share

* Disney has informed euro Disney that it is committed to support recapitalization of up to 1.5 billion euros for Euro Disney group of companies

* Euro Disney's supervisory board has expressed its support of these developments, and its interest in evaluating this proposal

* Acquisition of Euro Disney shares will occur through an off-market block trade

* As a result of this transaction, Kingdom's ownership interest in Euro Disney will decrease from 10.0 pct to 1.0 pct Source text for Eikon: ID:nCNWxqVK4a Further company coverage: DIS.N

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