Finance: Euro Disney stock surges

Posted at 1:27 AM EST (0627 GMT)

Feb. 1st, 2005 -- In Euro Disney's last financial restructuring stage, shares have risen by more than 16 percent in initial trading.

The price of Euro Disney shares rose to .14 euros.

Walt Disney Company said it will subscribe for 1.11 billion shares. Saudi Prince Alwaleed bin Talal will acquire 217.3 billion shares. Bin Talal is an important shareholder in Disney.

Euro Disney, which has been having financial problems, is in debt 2.4 billion euros and expects to pay 98 percent of the debt with a 253.34 million euro capital increase.

The increase will provide protection from business volatility and money for new attractions.

For more information, visit EUbusiness.com.