Mouse Of A Firm Makes Bid For Euro Disney Euro Disney
has been the butt of jokes for its magnificent losses, but Center-Tainment
chief executive Ulf Werner
is deadly serious about turning the park into a money-spinning Magic Kingdom.
At least, he seems to be.
In a Paris press conference on Thursday, Werner, dressed in dark suit and bow tie, said that Center-Tainment AG would launch an 11 euro cents ($0.15) per share bid for Disneyland Paris in the coming days, and garner a 50.01% stake in the theme part.
Sounds straightforward enough, though most analysts and regulators are scratching their heads as to how a Swiss company that no one had heard of until this week intends to unseat the management of Euro Disney, and also make the park more profitabile.
Precious little is known about Center-Tainment, other than that it is based in Zug, is listed on the Frankfurt stock exchange as of last September, and was formed "with the sole aim of creating a company able to initiate a share swap offer for Euro Disney's floating capital." Its stock also dropped about 75% to just over 5 euros ($6.63) on Thursday.