Euro Disney shareholding as of 20 April 2015

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It’s always interesting to know the share  ownership statistics of Disneyland Paris,  so here is the latest breakdown for Euro Disney S.C.A. as of the 20 April 2015.

The major thing that jumps out at you is that The Walt Disney Company now own over 77% of Disneyland Paris.

Company                                Shares        %

The Walt Disney Company              606,275,358   77.40
Kingdom Holding Company               38,976,490    4.98
Invesco Asset Management Ltd.         21,105,711    2.69
Ledbury Capital Partners LLP           8,109,570    1.04
Invesco Advisers, Inc.                 4,787,207    0.61
GAM London Ltd.                        2,813,640    0.36
State Street Global Advisors Ltd.        193,515    0.18
Euro Disney SCA                          584,466    0.075
Norges Bank Investment Management        516,124    0.066
GO ETF Solutions LLP                     169,206    0.022

Many thanks to Edith from APPAED (Association des Petits Porteurs d’Actions EuroDisney) for this very interesting data.

 

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CIMA goes to court to stop TWDC takeover of Euro Disney

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The French investment fund Charity & Investment Merger Arbitrage Fund – CIMA, which holds less than 1% of the share capital of Euro Disney, said on Monday it had filed an appeal against the decision of the French Financial Markets Authority (AMF) to authorize the takeover of the US parent unveiled in February.

While The Walt Disney Company has embarked on a complete takeover procedure of the capital of Euro Disney, French assest manger CIMA  considers that the procedure was not conducted in the common interest of the shareholders.

The Walt Disney Company announced on the 20 February that  they now owned up to 72.34% of the capital of Euro Disney S.C.A. as a result of capital increases made in three of its subsidiaries (EDL Holding Company, Euro Disney Investments, and EDL Corporation).

The next stage in the recapitalization of Euro Disney S.C.A. the mandatory tender offer (OPO) on all shares Euro Disney they do not possess  opened on April 2 and was expected to run until to 24 April 2015.  This has now been extended by the AMF until the Paris Appeal Court makes a ruling.

The Fund Charity & Merger Arbitrage Fund (CIMA) on 9 April 2015 filed an action for annulment before the Paris Appeal Court “against the AMF’s decision to declare conformity deposited on the public offer by the Euro Disney SCA Group Walt Disney Company,” according to a statement.

“This public offering completes a  situation of abuse of power in Euro Disney, which is not managed in the common interest of its shareholders or even its own corporate interests,” according to the fund.

 “All these actions appear likely to constitute the abuse of corporate assets offenses to the detriment of Euro Disney, presentation of inaccurate accounts and communication of false or misleading information. A complaint on these grounds was filed by CIMA with the national financial Parquet “, details the CIMA counsel, Mr. Julien Visconti.

The fund also says it plans in the coming weeks to launch an action in civil proceedings “for the return of hundreds of millions of euros improperly levied by the controlling shareholder in Euro Disney.”

On 17 February the shareholders of Euro Disney, meeting at the companies General Assembly approved the one billion euro recapitalize plan by nearly 95%.  Euro Disney has previously experienced financial restructuring in 1994 and 2004.

Source: La Tribune

Extension of the Euro Disney S.C.A. OPA

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Following an appeal filed on 9 April 2015 in the Paris Court of Appeal by CIMA,  the AMF – Autorité des Marchés Financiers (Financial Markets Authority) announced today in document No. 215C0446 that the Euro Disney S.C.A OPA will be extended.

The OPA was scheduled to be completed on 24 April 2015.  Pending the decision of the Paris Court of Appeal on the stay of application, the tender offer had been extended pursuant to Article 231-34 of the General Regulations.

New information will be published to shareholders to promote the modified calendar.