PARIS (AFX) - Ulf Werner, chairman of Swiss leisure group Center-Tainment AG, confirmed that his company plans to launch a takeover bid for loss-making theme park operator Euro Disney SCA 'in coming days'.
He will notify Paris bourse regulator AMF today of his intentions, Werner said at a news conference here.
Last night the owner of the Disneyland Paris resort said it had not been able to obtain any details of the supposedly forthcoming takeover bid, despite requests to the company.
France's Le Monde newspaper reported yesterday that Euro Disney could soon be the target of a hostile takeover bid from Center-Tainment, which is based in Zug, Switzerland and is listed in Frankfurt.
The report was based on an e-mail received from Center-Tainment, apparently in error. Euro Disney investors would be offered Center-Tainment shares, it said.
Parent company Walt Disney owns a 39.8 pct stake in the affiliated company and Prince Alwaleed bin Talal of Saudi Arabia has a 10 pct stake.
Euro Disney posted a net loss of 73.1 mln eur in its year to Sept 2006, on sales of 1.088 bln.
At 11.21 am, Euro Disney shares were down 0.01 at 0.08 eur. equitynext@afxnews.com an COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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