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.

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