Wednesday, November 29, 2006

Euro Disney could see hostile takeover offer from Center-Tainment – report

Center-Tainment, the listed Swiss leisure investor, could be making a hostile bid for the listed French leisure park Euro Disney, Frankfurter Allgemeine Zeitung reported. The report stated that Center-Tainment issued a statement last week in which it announced a significant acquisition. Center-Tainment also claims that the company was listed at the Frankfurt stock exchange in September this year with the purpose of making a takeover offer for Euro Disney.
Euro Disney stated it has not received any takeover offer yet. A 40% stake in Euro Disney is owned by the Walt Disney Company. The report noted that Center-Tainment offers EUR 0.11 for each Euro Disney share which at present has a value of EUR 0.06 per share. The offer would not be made in cash but Euro Disney’s shareholders would receive Center-Tainment shares in exchange. The report indicated that Center-Tainment’s website revealed the company is valued at EUR 150m. The report said that Center-Tainment plans to reveal further details at a press conference to be held in Paris tomorrow.


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