Saudi KHC injects SAR 197.5m into Euro Disney

Riyadh-Mubasher: Kingdom Holding Co. (KHC), which is chaired by the billionaire Prince Alwaleed bin Talal, said Wednesday it has injected SAR 197.52 million (49.2 million euros) into Euro Disney theme park operator under a recapitalisation plan.

The Riyadh-based company confirmed its additional investment in Euro Disney, whereby KHC fully participated in the rights issue offered by the company which operates Disneyland Paris, according to Agence France-Presse.

Thus, KHC maintains its 10% share ownership of the company.

In October last year, KHC said Alwaleed would subscribe to the rights issue to maintain the 10% stake, but gave no further details.

Alwaleed is the second-biggest shareholder of money-losing Euro Disney, whose visitor numbers dropped from 16 million to 14.2 million between 2012 and 2014.

Shareholders in January approved a recapitalisation plan to raise one billion euros for the indebted theme park.