The firm purchased more than 97 percent of the shares of Euro Disney SCA, after its profits failed to meet expectations.
The Walt Disney Company today announced that it has purchased more than 97 percent of the shares of Euro Disney SCA, the holding company that officially owns the Disneyland Paris Resort.
The company required 95 per cent ownership in order to remove the stock from trading and to implement a mandatory buy-out of the remaining shares in the company. Disney exceeded that target and today announced that it will complete that mandatory buy-out, at the same €2 a share price, by June 19th.
The park has failed to impress stockholders with decreased profits due in part to increased fear of terrorism following the various attacks in the capital, including the Bataclan shooting in 2015.
Areas of the park were recently refreshed for its 25thnanniversary celebrations, and more recently improvements such as the updated Star Tours ride have been introduced. Disney is now free to put more money into expansions and developments of the park in an attempt to bring profits in line with the other parks.