Riyadh: A firm owned by a Saudi prince said on Wednesday it has injected €49.2 million (Dh192 billion, $52.37 million) into the struggling Euro Disney theme park operator under a recapitalisation plan.
Riyadh-based Kingdom Holding Co, 95 per cent owned by the billionaire Prince Al Waleed Bin Talal, confirmed its “additional investment in Euro Disney ... whereby KHC fully participated in the rights issue” offered by the company which operates Disneyland Paris. “Thus, KHC maintains its 10 per cent share ownership of the company,” it said in a statement.
In October last year, Kingdom Holding confirmed a newspaper report that Prince Al Waleed would subscribe to the rights issue to maintain the 10 per cent stake, but gave no further details. Prince Al Waleed 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.