Orrick Advises Euro Disney’s Board in Walt Disney Tender Offer

May.16.2017

The Walt Disney Company has acquired 90% of Kingdom Holding Company's (KHC) shares in Euro Disney, increasing its stake in Euro Disney to 85.7% from 76.7%. Disney paid 2 euros per share in Disney stock to KHC, a publicly-traded holding company run by Saudi Prince Alwaleed Bin Talal.

Walt Disney also announced its intention to make a cash tender offer for all remaining outstanding shares of Euro Disney held by private shareholders at 2 euros per share. The French Market Authority delivered a decision of compliance in May 2017.

The company also plans to spend 1.5 million euros to improve Disneyland Paris and Euro Disney's other tourist destinations including the Walt Disney Studios Park and Disney Village and hotels.

Orrick has advised Euro Disney's supervisory board since 2012. The Orrick team advising on this transaction was led by partners Jean-Pierre Martel and Alexis Marraud des Grottes and included assistance by associates Julien Beloeil and Raphaelle Greffier.