Disney tightens Euro Disney grip in deal with Saudi's Alwaleed

Walt Disney Co swaps 9% stake in French theme park with Saudi Arabia's Kingdom Holding

Walt Disney Co has increased its hold on Euro Disney by swapping a 9 percent stake in the French theme park with Saudi Arabia's Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal.

Kingdom and Alwaleed are major investors in US companies in the technology and other sectors and together own more than five percent of Twitter Inc.

Kingdom Holding said on Friday it had traded 90 percent of its shares in Euro Disney into Walt Disney Co stock, gaining a net profit of $61 million through the deal.

Walt Disney said it was acquiring the shares from Kingdom Holding at 2 euros ($2.13) per share, increasing its interest in Euro Disney to...Read more...

Source: arabianbusiness.com