Walt Dis­ney in Deal with Saudi’s Al­waleed

The Economic Times - - Around The World -

Doha | Paris: Walt Dis­ney Co has in­creased its hold on Euro Dis­ney by swap­ping a 9% 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 5% of Twit­ter. King­dom Hold­ing said on Fri­day it had traded 90% 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 E2 ($2.13) per share, in­creas­ing its in­ter­est in Euro Dis­ney to 85.7% from 76.7%. Reuters

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