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12 February 2017
Shares in Kingdom Holding Company (KHC), the investment firm of Saudi billionaire Prince Alwaleed bin Talal, gained 3.56 percent on Sunday after the company announced it had made a net profit of $61 million by trading in its Euro Disney stocks for shares in Walt Disney Co.
Shares in Kingdom Holding were trading at at 11.65 Saudi riyals at 10:47AM GMT
KHC said in a statement on Friday that it had swapped 9 percent of Euro Disney company shares into the Walt Disney Company while maintaining 1 percent direct ownership in EuroDisney S.C.A. in a transaction valued at around $151 million.
The net profit gained in this transaction was approximately $61 million. This deal is in line with Kingdom Holdings investment strategy and continued confidence in the Disney brand, the statement added.
The deal increases Walt Disney Co.s hold of the French theme park to 85.7 percent from 76.7 percent, according to a Reuters report.
Disneyland Paris had struggled financially since 1992 from issues tied to debt due to heavy borrowing. Read More here
Zawya 2017
Shares in Kingdom Holding Company (KHC), the investment firm of Saudi billionaire Prince Alwaleed bin Talal, gained 3.56 percent on Sunday after the company announced it had made a net profit of $61 million by trading in its Euro Disney stocks for shares in Walt Disney Co.
Shares in Kingdom Holding were trading at at 11.65 Saudi riyals at 10:47AM GMT
KHC said in a statement on Friday that it had swapped 9 percent of Euro Disney company shares into the Walt Disney Company while maintaining 1 percent direct ownership in EuroDisney S.C.A. in a transaction valued at around $151 million.
The net profit gained in this transaction was approximately $61 million. This deal is in line with Kingdom Holdings investment strategy and continued confidence in the Disney brand, the statement added.
The deal increases Walt Disney Co.s hold of the French theme park to 85.7 percent from 76.7 percent, according to a Reuters report.
Disneyland Paris had struggled financially since 1992 from issues tied to debt due to heavy borrowing. Read More here
Zawya 2017
