Paris Court of Appeal rules Euro Disney S.C.A. recapitalization legal.

Logo_Euro_Disney_SCA

The Paris Court of Appeal ruled on 8 September 2015 that the AMF (Autorité des marchés financiers) [the French Financial Markets Authority] acted legally in their approval of the Euro Disney S.C.A. recapitalization.

The decision made by The Paris Court of Appeal follows the legal action that was filed on 9 April 2015 by CIMA (Charity & Merger Arbitrage Fund) against the decision made by the AMF to authorize the Euro Disney mandatory cash tender offer which is part of the recapitalization plan by The Walt Disney Company (TWDC) for the financially troubled Disneyland Paris resort.

It is expected that CIMA will appeal the  decision in the Supreme Court.

Source: L’AGEFI

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