70 different mission combinations for Star Tours: The Adventures Continue

startours1To celebrate its 25th Anniversary, Disneyland Paris® is offering a new and completely redesigned version of the Star Tours attraction. Introducing Star Tours: The Adventures Continue*.

Twenty five years ago, Disneyland® Park opened on the edge of Paris, offering millions of Europeans the opportunity to enjoy extraordinary experiences. Since it first appeared in Discoveryland®, Star Tours has established itself as a flagship attraction. Its mission: to take guests on a spectacular voyage to the heart of the Star WarsTM films.  

 26 March 2017: Star Tours: The Adventures Continue* has a number of surprises in store, with a
new experience, new destinations, a new pilot, new characters, new technologies and more. The attraction returns with an all-new, action-packed intergalactic voyage, all in 3D. Epic.

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New journeys in 3D

to better explore the galaxy far, far away…


Star Tours: The Adventures Continue* announces the arrival of a multitude of new scenes from the Star WarsTM saga. With more than 70 different mission combinations, it invites guests to enjoy an experience that is unique every flight. They never know where the Force might take them.

 Each of the multiple destinations offers its own surprises, with journeys through the worlds of Jakku, Naboo, Hoth, Tatooine, the Death Star and much more…

Guests travel through the galaxy with a new pilot, C-3PO himself!  And along the way they meet heroes never encountered until now. And watch out for Darth Vader… each scenario, journey and unexpected development is random to ensure guests can enjoy an original experience every time.

 

Full immersion and an action-packed flight

 

With state-of-the-art technology, flight simulators, digital 3D, Audio-Animatronics characters, special effects in the cockpit and epic music, guests are fully immersed in the universe of the Star WarsTM films. Episodes I to VII inclusive.

 They get ready to join the Rebellion aboard a Starspeeder 1000. The ship is meant to be piloted by droid AC-38, but in the end it is C-3PO behind the controls at take-off. From this point, there are more surprises to come… And while these surprises can help guests meet up with Princess Leia, Yoda, Boba Fett to name a few, one thing is certain: each flight will become a very memorable experience!

 Star Tours: The Adventures Continue* brings together more Star WarsTM heroes, villains, planets, battles, ships, and even more droids than ever before! The surprises just keep coming! Come to Discoveryland at Disneyland® Park on 26 March 2017… and may the Force be with You!

 

Posted in Disneyland Paris

Who are Euro Disney’s shareholders?

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Following the announcement on Friday that The Walt Disney Company (Disney) intends to purchase 90% of HRH Prince Alwaleed’s stake in Euro Disney S.C.A. from the Kingdom Holding Company,  today we take a look at the other corporate investors who own shares in Disneyland Paris.

If you missed Fridays announcement here is a short summary:

Disney is going to purchase 90% of HRH Prince Alwaleed’s stake in the resort which will occur through an off-market block trade and is scheduled to close on 15 February  2017. This move will increase Disney’s stake in Disneyland Paris  from 76.7%  to 85.7%.

The Kingdom Holding Company has said the net profit gained from this transaction will be $61 million.

Disney then propose to launch a voluntary  cash tender offer for all the remaining shares in Euro Disney at €2 a share – once the proposed offer has been subjected to review and clearance by the Autorité des Marchés Financiers (AMF).

Following the voluntary cash tender offer if Disney then own at least 95% of Euro Disney they will then  proceed with a mandatory buy out and delisting of Euro Disney shares from the Euronext Paris stock exchange.

Disney has also informed Euro Disney that it is committed to support a further recapitalization of up to €1.5 billion to the Euro Disney group of companies  to enable them to continue the implementation of improvements to the resort, reduce debt and increase liquidity for the ongoing s long-term success of Disneyland Paris.

So who does own the 783,364,900  shares that make up Euro Disney S.C.A. ?

The largest shareholder is The Walt Disney Company who own 600,922,335 shares or 76.7% of  Euro Disney via three of their subsidiaries companies EDL Holding Company, EDI SAS and EDLC SAS.

The Walt Disney Company             600,922,335        76.71% via
EDL Holding Company                 249,897,755        31.90%
EDI SAS                             196,800,000        25.12%
EDLC SAS                            196,800,000        25.12%

Euro Disney themselves own 0.075% of the company with a holding of 584,476 shares.

Euro Disney S.C.A.                      584,466        0.075%
EDL Participations SAS                       10

HRH Prince Alwaleed owns a 10%  stake in Disneyland Paris via his Kingdom Holding Company.  Prince Alwaleed has taken part in a number of  recapitalisations of the resort since 1994.  Disney through its wholly-owned subsidiary EDL Holding Company LLC has agreed to buy Kingdom’s  9% percent stake in Euro Disney for €2 a share, to be paid in The Walt Disney Company common stock.

Kingdom Holding Co                   78,336,508         10.00%
(HRH Prince Alwaleed)

The remaining corporate investors are a mixture of asset management companies, investment management companies  and pension funds.  It is expected that these investors will partake in the voluntary cash tender offer if it is approved by the AMF.

AIMCO                                 34,201,000         4.37% 
 
Ledbury Capital Partners LP            8,109,570         1.03%

Financière de l'Echiquier              7,400,000         0.95%

AZ Valor Asset Management              3,556,219         0.45%

OFI Asset Management SA                2,470,000         0.31%

Vanguard Group                           404,533         0.05%

Caixabank Asset Management /
Alboran Asset Management SICAV           160,199         0.020%  
   
Vanguard Australia                       100,136         0.010%   

Metropolitan Series - Metlife             79,170         0.010%  

Bestinver Gestion SA / 
Divalsa de Inversiones SICAV              61,623         0.010%

Charles Schwab Internation                63,853         0.010%     

Nextam Partners Ltd                       58,871         0.010% 

Talence Gestion SAS                       48,119         0.011%  

UBS Global Asset Management (UK) Ltd      12,318         0.0015%

Northen Trust Investments Inc             11,550         0.0014%

Helium Fund - Performance                 10,000 

SEI Investments Management Corp            7,852 

Legal & General Collective 
Investment Trust Fund                      3,496 

La Mondiale (Investment Portfolio)           875 

Wisdom Tree Europe Local Recovery/Mellon     184 

Morphic Asset Management Pty Limited          60

Reilly Financial Advisor LLC                  68                                           

BlackRock Advisors UK Limited                 47

The remaining 5.5% of shareholders of Euro Disney are individual private investors.  These days the majority of them are  Disneyland Paris fans who purchased shares to own a small part of the Magic and to take advantage of the perks the Euro Disney Shareholders Club offers to their members.


The above list of Euro Disney S.C.A. corporate shareholders was compiled by APPAED (Association des Petits Porteurs d’Actions EuroDisney) using data from the Euro Disney SCA reference document, Wall Street Journal, Barron’s, Morning Star, Financial Times (FT Market), & Zone bourse et AM.

This list was published on 7 February 2017.

Posted in Disneyland Paris

Euro Disney S.C.A. share price increases by 67% to close at €2.00

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This weeks Euro Disney share price

‪Shares in Euro Disney S.C.A.  increased in value today by  67%  following the announcement this morning by The Walt Disney Company (Disney) of their intention to purchase all the remaining shares in Euro Disney  via their  wholly-owned subsidiary the EDL Holding Company.

This evening Euro Disney’s share price on the Euronext closed at €2.00 up €0.80 on yesterday’s close of €1.20 following the news that The Walt Disney Company  will acquire 90% of the Kingdom Holding Company’s  shares in Disneyland Paris at a price of €2.00 per share which will be paid in shares of Disney common stock.

The move will increase  Disney’s interest in Euro Disney to 85.7%.   As a result of this transaction, HRH Prince Al-Waleed Bin Talal ownership interest in Euro Disney will decrease from 10.0% to 1.0%.

Disney also announced that the EDL Holding Company intends to make a cash tender offer for all remaining outstanding shares of Euro Disney at a cash price of €2.00 per share, representing a 67% premium to the trading price at the close on February 9, 2017.

Disney will also support a recapitalization of up to €1.5 billion for the Euro Disney group of companies to enable the Group to continue implementation of improvements to Disneyland® Paris, reduce debt and increase liquidity.

The graphs below show Euro Disney’s share price during the last 12 months.

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Euro Disney share price during the last month

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Euro Disney share price over the last 3 months

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Euro Disney share price during the last 6 months

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Euro Disney share price during the last 12 months

Posted in Disneyland Paris

Euro Disney 2017 First Quarter Results Published

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Disneyland Paris published their 2017 first quarter results today 10 February 2017.  A summary is below and the full report can be downloaded here.


EURO DISNEY S.C.A.

Fiscal Year 2017

Announcement for First Quarter Ended December 31, 2016

Resort revenues for the first quarter were €345 million, an increase of 3% compared to the same prioryear quarter mainly due to higher volumes as the prior-year quarter was impacted by a four-day closure of the parks following the November 2015 events in Paris 

The Group continues to invest in the guest experience with the January 2017 debut of the Season of the Force and the upcoming launch of Disneyland® Paris’ 25th Anniversary celebration

In its fiscal year 2016 statutory financial statements prepared under French accounting principles, the Company recorded a €953 million impairment charge related to its investment in Euro Disney Associés S.C.A. This impairment had no impact on the Group’s consolidated financial statements prepared under IFRS or its cash position

Mr. Axel Duroux was appointed Chairman of the Company’s Supervisory Board in replacement of Ms. Virginie Calmels

(Marne-la-Vallée, February 10, 2017) Euro Disney S.C.A. (the “Company”), parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris, today reported revenues of the consolidated group (the “Group”) for the first fiscal quarter ended December 31, 2016.

Commenting on the results, Catherine Powell, Présidente of Euro Disney S.A.S., said:

“After a difficult year, the Paris tourism environment remains challenging, with the year-long state of emergency still in place. However volumes at both our parks and hotels are improving. The park looks fantastic after all the work that has been done to renovate our top attractions such as Big Thunder Mountain, It’s a Small World and Peter Pan’s Flight, and we continue to receive positive guest feedback. Additionally we are excited about our new offerings such as the Season of the Force, which has been very popular, and we are looking forward to launching our 25th Anniversary in March with even more new products and experiences for our guests to enjoy.”

Resort operating segment revenues increased 3% to €345 million, compared to €334 million in the prior-year quarter.

Theme parks revenues increased 3% to €194 million due to a 6% increase in attendance as the prior-year quarter was impacted by a four-day closure of the parks following the November 2015 events in Paris. This increase in attendance was partially offset by a 3% decrease in average spending per guest compared with the prior-year quarter. The increase in attendance was primarily driven by more guests visiting from France and the United Kingdom, partially offset by fewer guests visiting from Belgium and the Netherlands. The decrease in average spending per guest was primarily due to lower average ticket rates.

Hotels and Disney Village® revenues increased 4% to €141 million mainly due to a 3 percentage point increase in hotel occupancy. The increase in hotel occupancy reflected more guests visiting from the United Kingdom, partially offset by fewer guests staying at the hotels from Belgium and France.

Real estate development operating segment revenues increased €5 million to €9 million due to higher land sale activity. Given the nature of the Group’s real estate development activity, the number and size of transactions vary from one period to the next.

UPDATE ON RECENT AND UPCOMING EVENTS

Disneyland® Paris activities

During the quarter ended December 31, 2016, the Group continued its refurbishment program in preparation of the upcoming celebration of Disneyland® Paris’ 25th Anniversary. The Group notably completed the refurbishment of Big Thunder Mountain which re-opened in December 2016. Completed renovations, which also include “it’s a small world” and Peter Pan’s Flight in the prior year, have enhanced the park’s offerings and contributed to positive guest feedback.

In January 2017, Disneyland Paris launched the Season of the Force. For this event, which will last until March 2017, Walt Disney Studios® Park presents a nighttime spectacular which transports guests to the heart of the Star Wars Saga. This show combines live entertainment, special effects and an epic sound and light show projected on the park’s most iconic building. Throughout the day, guests are also able to see heroes from the world of Star Wars as part of a number of events for the celebration of the galactic saga.

On March 26, 2017, Disneyland Paris will kick off its 25th Anniversary celebration, which features a new nighttime spectacular, a new daytime parade and exclusive shows. Enhanced attractions will also be launched during the celebration, including Star Wars Hyperspace Mountain and Star Tours: The Adventures Continue.

The current year also marks the 30-year anniversary of the signature of the main agreement with the French state, which serves as the foundation for the establishment of the resort.

Impairment of the Group’s Long-Lived Assets and the Company’s Investments in Subsidiaries

In its announcement of full year results for the year ended September 30, 2016 (“Fiscal Year 2016”), the Group reported a €565 million impairment charge related to its long-lived assets which are mainly comprised of the theme parks and hotels. The impairment charge was recorded in the Group’s consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”).

Separately, each fiscal year the Company prepares statutory financial statements under French accounting principles which are different than IFRS principles. These financial statements are prepared on a stand-alone basis with the Company’s primary asset being its investment in the equity of its subsidiary Euro Disney Associés S.C.A. (“EDA”). On an annual basis, the carrying value of the Company’s investment in EDA is required to be tested for impairment.

The impairment tests under IFRS and French accounting principles have both been performed using the net present value of expected future cash flows of the theme parks and hotels. The Company has also used that value to measure its investment in the equity of its subsidiary.

On that basis, as of September 30, 2016, the Company reviewed the value of its investment in the equity of EDA for impairment and considered that the value was nil. Accordingly, the Company recorded an impairment charge of €953 million.

As a result of this impairment charge, the net equity (capitaux propres) of the Company as of September 30, 2016 has become less than 50% of its share capital. In accordance with Article L.225-248 and Article L.226-1 of the French Commercial Code, the shareholders will be consulted about the Company’s pursuit of activities. For this purpose, a resolution will be submitted for a vote of the shareholders at the next general meeting to fulfill this mandatory requirement. A pursuit of the Company’s activities will require it to restore its net equity within the two-year period provided by law.

The impairment charges discussed above had no impact on the Group’s or the Company’s cash position or cash flows.

For more information on the impairment charges discussed above, see notes 2.2.5.5.”Impairment of Long-Lived Assets” and 3.3.”Impairment Charge” in the consolidated financial statements and notes 2.3.”Investments in Subsidiaries” and 3.1.”EDA” in the Company stand-alone financial statements included in the Group’s 2016 reference document.1

Supervisory Board

During their meetings held on February 9, 2017, the Supervisory Boards (Conseils de Surveillance) of both the Company and EDA (the “Boards”) appointed Mr. Axel Duroux as Chairman of the Boards to replace Ms. Virginie Calmels, who resigned.

Due to the launching of a new national political movement she founded and now heads as president, Ms. Virginie Calmels informed the management company (gérant), on January 27, 2017 that she was considering whether her new responsibilities were compatible with her functions as Chairman and member of the Boards. In that respect, she asked the management company (gérant) to organize the works of the Nomination Committee (Comité des nominations) of the Boards in order to ensure a smooth transition of her positions as Chairman of the Boards in the event she had to resign from such positions. Having been informed by Mr. Axel Duroux and Ms. Catherine Powell of the positive outcome of the works of the Nomination Committee, Ms. Calmels notified the management company (gérant), on February 8, 2017, in the evening, of her decision not to pursue her role as Chairman and member of the Boards and to resign from these positions with immediate effect.

Ms. Calmels stated that the media exposure related to her position at the head of her political movement may create a risk of confusion in terms of image for the Company. She also considered that her role within this movement was preventing her from giving to the Company as much time as her positions as Chairman of the Boards require. In this respect, Ms. Calmels emphasized the significant involvement shown by herself and the Boards in order to ensure that the management company (gérant) was implementing measures to cope with the difficulties faced by the Group during fiscal year 2016, due to the depressed economic environment on the one hand, and to the exceptional events which deeply affected the tourism industry during this period on the other.

Ms. Calmels also stressed the dedication of the Boards, in each and every one of their works and decisions, to support the actions taken by the management company (gérant) to improve the Group’s position, in the interest of the Company, its shareholders and the Group’s employees, including the one which led The Walt Disney Company to waive its royalties and management fees for two years, in order to reinforce the Group’s liquidity. In this regard, Ms. Calmels noted that it would be necessary to carry on with the efforts made for such purpose. As such she received confirmation from the Company’s main shareholder that it was aware of the financial situation of the Group and that it remains committed to help the Group find and propose, before the end of 2017, the right long-term financial solution for the Group which takes into account the interests of the various stakeholders.

Ms. Calmels thanked the members of the Boards, the members of the Group’s general management team and the shareholders for trusting her while she was carrying out her duties. Informed of the conclusions of the works of the Nomination Committee (Comité des nominations) as she had requested, she welcomed the recommendation it made to propose to the Boards to appoint Mr. Axel Duroux as Chairman of the Boards.

While it expressed its deep regrets regarding Ms. Calmels’s resignation, the management company (gérant) understands and respects the professional choice she made and the motives for her decision. The management company (gérant) thanks her gratefully for having, during the past few years, actively and constantly taken part in the efforts made to restore the Group’s financial condition, in the interest of the Company, its shareholders and the Group’s employees.

On this occasion, Catherine Powell, Présidente of Euro Disney SAS said: “I’d like to thank Virginie Calmels for her many years of service and commitment to the Euro Disney Supervisory Board. With the interest of the company, its shareholders and its employees at the forefront, she has helped successfully guide our company through many major milestones, including the recapitalization in 2015. We understand her need to step down and we wish her the best in her new political endeavors. Moreover, I am very pleased with the appointment of Axel Duroux as Chairman of the Board and look forward to working with him.

Axel Duroux, added: “It’s an honor to be appointed as Chairman of the Supervisory Board, and I would like to thank the Board for its trust and support. I am looking forward to continuing the work initiated by Ms. Calmels with the support of the Board and the Euro Disney management team, to ensure the success of Disneyland Paris.

Also, Ms. Valérie Bernis notified the management company (gérant) of her resignation from her position as member of the Boards. Asserting that the management company (gérant) is not taking adequate measures to improve the Group’s profitability, she feels unable to protect the interests of minority shareholders

The management company (gérant) has informed Ms. Bernis that it deeply disagrees with her perspective, reminding her of the measures taken in the interest of the Company, its shareholders and the Group’s employees, as well as the actions taken by the management company (gérant), under the supervision of the Boards, in order to address the Group’s financial situation.

During their meetings held on February 9, 2017, the Boards acknowledged these resignations and, having considered the recommendations of the Nomination Committee, resolved on the ways and means to reorganize each Board.

In that respect, the Boards have decided to propose during the next meetings of the shareholders of both the Company and EDA to appoint Ms. Hélène Etzi to replace Mr. Karl Holz, who gave notice of his decision not to renew his term of office, which will come to an end on the date of these meetings. The Boards have also resolved not to replace Ms. Bernis whose term of office was to expire on the date of the next meetings of the shareholders of both the Company and EDA. Ms. Calmels being replaced by Mr. Duroux as Chairman of the Boards, her term of office will not be renewed and the number of the members of the Boards is consequently ten as of today, of which seven are independent.

Posted in Disneyland Paris

The Walt Disney Company Announces its Intention to Launch a Tender Offer for all Remaining Euro Disney Shares and a mandatory buy-out if the 95% threshold is reached.

TWDClogoLogo_Euro_Disney_SCAThe Walt Disney Company released a  Press Statement this morning advising of Disney’s intention to purchase all the remaining shares in Euro Disney S.C.A. and support a recapitalization of up to €1.5 billion for the Euro Disney group of companies to enable the Group to continue implementation of improvements to Disneyland® Paris, reduce debt and increase liquidity.


– The Walt Disney Company (“Disney“) announces the acquisition of 90% of Kingdom Holding Company’s (“Kingdom”) interest in Euro Disney S.C.A. (“Euro Disney”), representing 9% of Euro Disney’s outstanding shares.

– The proposed transaction will increase Disney’s interest in Euro Disney to 85.7% from 76.7%.

– The price for the transaction is €2.00 per share and will be paid in shares of Disney common stock.  

Disney also announces its intention to make a cash tender offer for all remaining outstanding shares of Euro Disney at a price of €2.00 per share, representing a 67% premium to Euro Disney’s trading price at its close on February 9, 2017.

– Subsequent to the completion of the tender offer, Disney is committed to support a recapitalization of up to €1.5 billion for the Euro Disney group of companies (“Group”) to address the Group’s financial needs.

PARIS, Feb. 10, 2017 – Today The Walt Disney Company (“Disney“) announced that it will acquire through one of its subsidiaries 90% of Kingdom Holding Company’s (“Kingdom”) shares in Euro Disney S.C.A. (“Euro Disney”) at a price of €2.00 per share, increasing its interest in Euro Disney to 85.7%.  Disney also announced that this subsidiary intends to make a cash tender offer for all remaining outstanding shares of Euro Disney at a price of €2.00 per share, representing a 67% premium to the trading price at the close on February 9, 2017.  Moreover, Disney has informed Euro Disney that it is committed to support a recapitalization of up to €1.5 billion for the Euro Disney group of companies (“Group”) to enable the Group to continue implementation of improvements to Disneyland® Paris, reduce debt and increase liquidity.

As previously reported by Euro Disney, despite the recapitalization announced in 2014 that enabled the Group to make attraction and hotel improvements which have generated positive guest feedback and set the stage for the Resort’s 25th Anniversary celebration this year, the Group’s financial condition has 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 comprehensive proposal announced by Disney affords maximum flexibility to shareholders, addresses the Group’s financial needs and reflects its ongoing support for the long-term success of Disneyland® Paris.

Euro Disney’s Supervisory Board has expressed its support of these developments, and its interest in evaluating this proposal.  The Board has asked its audit committee, which is comprised solely of independent members, to make a recommendation for the appointment of an independent expert to deliver a fairness opinion in connection with the proposed tender offer.

Transaction Details:
The acquisition of Euro Disney shares will occur through an off-market block trade and is scheduled to close on February 15, 2017.  The purchase price of €2.00 per share will be paid in shares of Disney common stock, based on Disney’s closing price on the New York Stock Exchange on February 14, 2017 and the Euro-U.S. exchange rate published by the European Central Bank on the same day.  The seller will be Kingdom 5-KR-11, Ltd, a subsidiary of Kingdom, and the purchaser will be EDL Holding Company, LLC (“EDL”), a wholly-owned subsidiary of Disney through which Disney historically has held its interest in Euro Disney.  As a result of this transaction, Kingdom’s ownership interest in Euro Disney will decrease from 10.0% to 1.0%.

In connection with this transaction, EDL intends to make a voluntary tender offer for all of the Euro Disney shares not already owned by Disney subsidiaries at a cash price of €2.00 per share.  If EDL and the other Disney subsidiaries acting in concert with it collectively own at least 95% of Euro Disney’s common shares following completion of the voluntary tender offer, EDL will promptly proceed with a mandatory buy out and delisting of the Euro Disney shares from Euronext Paris.  An indicative timetable is attached to this press release.

Disney has also informed Euro Disney that it is committed to support a recapitalization of up to €1.5 billion as described below:

–  If Euro Disney remains a listed company, Disney would expect the recapitalization to take the form of a subscription by the applicable Disney subsidiaries of their pro-rata share of a €1.23 billion rights offering by Euro Disney together with a backstop of (and at the same price as) the rights offering by one or more of such subsidiaries, ensuring that Euro Disney will be able to raise the full amount contemplated by the rights offering, combined with a direct €270 million cash investment in equity at the level of Euro Disney Associés S.C.A., the main operating subsidiary of Euro Disney, and contribution of the proceeds of the rights offering by Euro Disney to Euro Disney Associés S.C.A. to maintain the ownership level of Euro Disney Associés S.C.A. by Euro Disney at its current 82%.  Proceeds would be used to enable the Group to continue implementation of improvements to Disneyland Paris, repay most or all of the Group’s indebtedness and increase liquidity.  The rights offering described above would be subject to the prior approval of Euro Disney’s shareholders at a shareholders’ meeting.

–  If Euro Disney is delisted, Disney would expect the recapitalization to be in the same amount and to also consist entirely of equity contributions to the Group, but the allocation of such contributions between Euro Disney and its subsidiaries could vary compared to what is described above.  The proceeds would be used for the same purposes as described above.

The proposed tender offer will be subject to review and clearance by the Autorité des marchés financiers of a Tender Offer Prospectus (Note d’information).  In addition, any rights offering will be subject to review and clearance by the Autorité des marchés financiers of an Offering Prospectus (Note d’opération).

About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international entertainment and media enterprise with the following business segments: media networks, parks and resorts, studio entertainment, and consumer products and interactive media.  Disney is a Dow 30 company and had annual revenues of $55.6 billion in its Fiscal Year 2016.

About Kingdom Holding Company
Founded in 1980, Kingdom Holding Company is a publicly traded company, which was listed on Tadawul (the Saudi Stock Exchange) in 2007.  Kingdom Holding Company is one of the world’s most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player regionally and internationally.

About Euro Disney S.C.A.
Euro Disney S.C.A. is the holding company for Euro Disney Associés S.C.A., the primary operating company of Disneyland® Paris.  Disneyland Paris is comprised of the Disneyland® Park, the Walt Disney Studios® Park, seven themed hotels with approximately 5,800 rooms (excluding approximately 2,700 additional third-party rooms located on the site), two convention centers, the Disney Village®, a dining, shopping and entertainment center, and golf courses.  Euro Disney S.C.A. is also responsible for the development of the 2,230-hectare property including and surrounding Disneyland Paris. Euro Disney S.C.A.’s shares are listed and traded on Euronext Paris.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the proposed tender offer, all statements regarding The Walt Disney Company’s or EDL Holding Company, LLC’s expected future financial position, results of operations, cash flows, dividends, financing plans, business strategy, budgets, capital expenditures, competitive positions, growth opportunities, plans and objectives of management, and statements containing the words such as “anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “would,” “should,” “will,” “intend,” “may,” “potential,” “upside,” and other similar expressions. Statements in this press release concerning the business outlook or future economic performance, anticipated profitability, revenues, expenses, dividends or other financial items, and product or services line growth of The Walt Disney Company or EDL Holding Company, LLC, together with other statements that are not historical facts, are forward-looking statements that are estimates reflecting the best judgment of The Walt Disney Company or EDL Holding Company, LLC based upon currently available information.

Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from The Walt Disney Company’s or EDL Holding Company, LLC’s expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and are subject to a significant business, economic and competitive risks, uncertainties and contingencies, many of which are unknown and many of which The Walt Disney Company or EDL Holding Company, LLC is unable to predict or control. Such factors may cause The Walt Disney Company’s or EDL Holding Company, LLC’s actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors discussed or identified in public filings that have been, or will be, made by The Walt Disney Company (or EDL Holding Company, LLC as the case may be) with the French Autorité des marchés financiers (the “AMF”) and/or the United States Securities and Exchange Commission (the “SEC”) from time to time. The Walt Disney Company and EDL Holding Company, LLC caution investors that any forward-looking statements made by The Walt Disney Company or EDL Holding Company, LLC are not guarantees of future performance. The Walt Disney Company and EDL Holding Company, LLC disclaim any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.

OTHER IMPORTANT INFORMATION

The documentation relating to the proposed tender offer – if filed – will include the terms and conditions of the tender offer, which will be submitted to the Autorité des marchés financiers. It is strongly recommended that investors and shareholders located in France read, when available, the documentation relating to the tender offer, as well as any amendments to those documents, as they will contain important information about The Walt Disney Company, EDL Holding Company, LLC, Euro Disney S.C.A. and the proposed transaction.

This press release must not be published, broadcast or distributed, directly or indirectly, in any country in which the distribution of this information is subject to legal restrictions. The tender offer will not be open to the public in any jurisdiction other than France in which its launch is subject to legal restrictions.

The release, publication or distribution of this press release in certain countries may be subject to legal or regulatory restrictions. Therefore, persons located in countries where this press release is released, published or distributed must inform themselves about such restrictions and comply with them. The Walt Disney Company, EDL Holding Company, LLC and Euro Disney S.C.A. disclaim any responsibility for any violation of such restrictions.

Tender Offer – Indicative Timetable

February 10, 2017

Press release announcing the intention of EDL Holding Company, LLC (the “Bidder”) to make a tender offer at €2.00 per Euro Disney share.

March 29, 2017

Filing with the AMF of the Bidder’s draft offer document.

Public posting of the Bidder’s draft offer document on the AMF’s website (http://www.amf-france.org) and on the website of Euro Disney (the “Company”) (http://corporate.disneylandparis.com).

Publication by the Company of a press release containing the main terms of the draft Offer on its website.

Filing with the AMF of the Company’s draft Response Document.

Public posting of the Company’s draft Response Document on the AMF’s website (http://www.amf-france.org) and on the Company’s website (http://corporate.disneylandparis.com).

Publication by the Company of a press release containing the main terms of its draft Response Document.

April 19, 2017

AMF’s clearance decision of the Offer, which will indicate the visa number of (i) the Offer Document and (ii) the Response Document.

Posting on the AMF’s and the Company’s websites of (i) the Bidder’s Offer Document, (ii) the Company’s Response Document, (iii) the “Other Information” document, containing legal, accounting and financial information regarding the Bidder and (iv) the “Other Information” document, containing legal, accounting and financial information regarding the Company.

Publication by the Company of a press release informing the public of the availability of (i) the Bidder’s Offer Document, (ii) the Company’s Response Document, (iii) the “Other Information” document, containing legal, accounting and financial characteristics of the Bidders and (iv) the “Other Information” document, containing legal, accounting and financial characteristics of the Company.

April 21, 2017

Opening of the Offer.

May 19, 2017

Last day on which the Offer is open.

June 1, 2017

Publication of a notice announcing the final results of the Offer by the AMF.

June 5, 2017

Settlement and delivery of the Offer.

Starting on June 12, 2017

If applicable, mandatory buy-out and Delisting.

Posted in Disneyland Paris | Tagged , , , , , | 7 Comments

Mickey shows off his 25th Anniversary outfit.

Mickey Mouse made his first public appearance in the park yesterday (Monday 6 February 2017) dressed in his 25th Anniversary outfit for a photoshoot with French television presenter Karine Ferri for TF1.

Photos: ED92 and DisneylandBerry

Posted in Disneyland Paris

L’Atelier des Gateaux cupcakes return to Disneyland Paris.

Following the success of the previous initiative, some of the cupcakes made in collaboration with Parisian pastry shop L’Atelier des Gâteaux and Disneyland Paris will be back on sale at the Boardwalk Candy Palace on Main Street U.S.A.  starting this Saturday and until 26 February 2017.

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For the occasion, two will be decorated for Valentine’s day and a new cupcake will be introduced (vanilla with Tagada sweets) for 4,99€.

But there is more, as 2 brand-new cake pops (2,99€) and a giant Nutella-filled cookie (4,99€) will be introduced as well.

Posted in Disneyland Paris