Bienvenue, Disneyland Paris, to the House of Mouse.
- Disney completed its acquisition of shares of Euro Disney SCA
- Purchase allows Disney to finish a buyout and own Disneyland Paris
- Money-losing resort has been run by independent firm for 27 years
Disney acquired a 97 percent stake in Euro Disney SCA, the group that owns Disneyland Paris, which will allow it to buy out the remaining shares of the company that it doesn't own and delist the company as of June 19.
The company began offering to buy out stockholders in May, but Disney CEO Robert Iger made it clear at the annual shareholders meeting March that "the best path forward in terms of managing that business successfully, and creatively by the way, is for us to be the primary owners, or sole owners really, of that business."
Indications are that Disney is prepared to put quite a bit of money into upgrading the resort, which is two parks: Disneyland Paris and Walt Disney Studios Park.
Disneyland Paris, originally known as Euro Disney, has been run by an independent company for 27 years, but because of financial issues, it's been bailed out by Disney at least three times.
In 2014, Disney spent $1.3 billion to bail out the beleaguered resort. But the park's finances have been further damaged by a persistently weak economy and the 2015 terrorist attacks in Paris.
The move makes Disneyland Paris the third theme park to be solely owned by the Mouse House. The four theme parks in China and Japan part-owned by other companies.
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