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Implementation By EDL Holding Company, LLC, Euro Disney Investments S.A.S. And EDL Corporation S.A.S. Of A Mandatory Buy-Out Following The Completion Of Their Tender Offer For Euro Disney S.C.A.'s Shares

The Walt Disney Company
2017-06-14 01:51 3091

PARIS, June 14, 2017 /PRNewswire/ -- Following the completion of the tender offer for Euro Disney S.C.A.'s shares, EDL Holding Company, LLC, Euro Disney Investments S.A.S. and EDL Corporation S.A.S. (the "Bidders") now hold 97.08% of the shares and will implement on June 19, 2017 a mandatory buy-out of the shares that the Bidders do not own.

The AMF published today a notice which specifies that the date of implementation of the mandatory buy-out of Euro Disney S.C.A.'s shares that the Bidders do not own will be June 19, 2017. The trading of Euro Disney S.C.A.'s shares on Euronext Paris has been suspended today before the market opening.

The mandatory buy-out will apply to all Euro Disney S.C.A.'s shares that the Bidders do not own, i.e 22,661,121 shares on the basis of a share capital of 783,364,900 shares.

The compensation for the shares subject to the mandatory buy-out will equal that of the price of the tender offer.

Upon the closing by Euroclear France of the affiliates' accounts (scheduled for June 19, 2017), the custody account-keeping institutions will require from BNP Paribas Securities Services, acting as the custody account-keeper appointed by the Bidders, the payment of the compensation for the shares registered in their books not owned by the Bidders and which are therefore subject to the mandatory buy-out, and will credit the accounts of the shareholders with the compensation payment due to them.

Compensation payments not requested by the custody account-keeping institutions on behalf of the beneficiaries will be kept by BNP Paribas Securities Services for a period of ten years after the mandatory buy-out after which they will be transferred to the Caisse des Dépôts et Consignations. Such compensation payments may be claimed at any time by their respective beneficiaries, subject to a thirty-year statute of limitations, after which such funds will become the property of the French Republic.

Euro Disney S.C.A.'s shares will be delisted on June 19, 2017 after the closing of the markets, the date of implementation of the mandatory buy-out.

The securities note prepared by the Bidders, which was cleared by the AMF and granted visa number 17-186 dated May 9, 2017, published on May 10, 2017, and the information relating to the characteristics, in particular the legal, financial, and accounting characteristics of the Bidders are available on the websites of the AMF (http://corporate.disneylandparis.fr) and of Euro Disney S.C.A. (http://corporate.disneylandparis.fr). Copies of these documents are available free of charge at:

EDL Corporation S.A.S.

BNP PARIBAS

1 rue de la Galmy

4, rue d'Antin

77700 Chessy

75002 Paris

The securities note in response prepared by Euro Disney S.C.A., which was cleared by the AMF and granted visa number 17-187 dated May 9, 2017, published on May 10, 2017, and the information relating to the characteristics, in particular the legal, financial, and accounting characteristics of Euro Disney S.C.A. are available to the public on the website of the AMF (www.amf-france.org) as of, respectively, and Euro Disney S.C.A. (http://corporate.disneylandparis.fr) and may be obtained free of charge from :

Euro Disney S.C.A.
1 rue de la Galmy
77700 Chessy

Additional information regarding the Offer is available at https://eurodisney-opa.com/en.

This press release does not constitute an offer to acquire securities.

This press release is issued by EDL Holding Company, LLC, Euro Disney Investments S.A.S. and EDL Corporation S.A.S. in accordance with the provisions of Article 237-16 III of the Autorité des marchés financiers (the "AMF") General Regulation and Article 9 of instruction no.2006-07 on takeover bids.  

 

Contacts:




Angela Bliss

Corporate Communications

Angela.R.Bliss@disney.com

+1 (818) 560-4107

David Jefferson
Corporate Communications
David.J.Jefferson@disney.com
+1 (818) 560-4832

Brunswick Paris

Hugues Boëton

TWDC@brunswickgroup.com 

+33 (0) 1 53 96 83 83

 

Source: The Walt Disney Company
collection