25,302 Euro Disney shares purchased by TWDC on 10 May 2017

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Euro Disney ‘Cash Tender Offer’ watch

In a declaration of purchases and sales published today (11 May 2017) on the Autorité des marchés financiers (AMF) website, the EDL Holding Company LLC a wholly-owned subsidiary of The Walt Disney Company purchased 25,302 Euro Disney S.C.A. shares yesterday (10 May 2017).

The Walt Disney Company now own 86.069% of Disneyland Paris with 674,239,051 shares.

Euro Disney S.C.A. has a total of 783,364,900 shares,  and The Walt Disney Company has announced that they intend to apply to the AMF for a mandatory take-over of Disneyland Paris if they reach an ownership level of 95% of the company.

Now that the Simplified Cash Tender Offer has opened to the public the number of shares being purchased daily by TWDC should now increase.

 

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About Salon Mickey

Salon Mickey The Disneyland Paris Shareholders Blog
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2 Responses to 25,302 Euro Disney shares purchased by TWDC on 10 May 2017

  1. RotesGnu says:

    Hi,
    What will happen to the shares of shareholders who don’t accept the cash offer, when TDWC apply for the take over after 08th June?

    Kind Regards

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  2. Salon Mickey says:

    This is from the FAQ The Walt Disney Company has published for shareholders:

    What if I don’t accept The Walt Disney Company’s tender offer?

    You will retain your shares.

    If The Walt Disney Company reaches the threshold enabling a mandatory buy-out, you will be required to transfer your shares for €2.00 per share.

    The Walt Disney Company does not reach the threshold permitting it to implement a mandatory buy-out, you will retain your shares.

    In any case the recapitalization of up to €1.5 billion is essential for the Euro Disney Group.

    However, simply proceeding with it through a share capital increase would have required that shareholders either pay their pro-rata share of the equity contribution of up to €1.5 billion or experience substantial dilution of their shares.

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