Euro Disney S.C.A. (the “Company”), parent company of Euro Disney Associes S.C.A. (“EDA”), operator of Disneyland(R) Paris, announces a significant real estate transaction.
Under the 30 year main agreement signed with the French public authorities in 1987, the Euro Disney Group is responsible, together with the French public authorities, for the planning and development of approximately 2,000 hectares including and surrounding the Resort. This area includes the Val d’Europe region, an economic hub east of Paris.
In June 2010, EDA recognized EUR 47 million on the sale of the property underlying the Val d’Europe Mall to Klepierre and its partner, AXA (the “Buyers”). This property had previously been subject to a long-term ground lease between EDA and the Buyers.