Tender offer to
Euro Disney S.C.A. shareholders

Euro Disney S.C.A. shareholders have the opportunity to tender their shares in the offer initiated by subsidiaries of
The Walt Disney Company
at €2 per share. The offer will be open from May 11th through June 8th, 2017

important documents

Shareholders are urged to review the filed tender documents
Information Document related to the Simplified Cash Tender Offer by The Walt Disney Company and its subsidiaries for the shares of Euro Disney S.C.A.
Response Document related to the Simplified Tender Offer [initiated by The Walt Disney Company and its subsidiaries for the shares of Euro Disney S.C.A.]
Other Information Document related to the bidders of the Simplified Cash Tender Offer
Other Information Document on Euro Disney S.C.A. related to the Simplified Tender Offer
Letter to Euro Disney S.C.A Shareholders (by Catherine Powell, President of Euro Disney S.A.S.)

Support of a recapitalization plan for Euro Disney S.C.A.

A recapitalization plan of up to
€1.5 billion
 
The proposed recapitalization will allow
Euro Disney S.C.A. to:

  • Continue making improvements to
    Disneyland® Paris
  • Repay most or all of the Group’s debt
  • Increase liquidity

press
releases

AMF approval on the Information Document related to the Simplified Cash Tender Offer initiated by The Walt Disney Company and its subsidiaries for the shares of Euro Disney S.C.A.
AMF approval on the Response Document related to the Simplified Cash Tender Offer
reference
document 2016
annual<br />
report<br />
2016
annual
report
2016

What we are offering
Euro Disney shareholders

The opportunity to tender their shares under the following terms:

  • €2 per share An independent financial expert hired by Euro Disney S.C.A.’s Supervisory Board to evaluate the offer observed that this price represents a premium of between 64% and 651% based on the various valuation criteria considered and concluded that this price is fair. A complete copy of the independent expert’s report is available on page 25 of the “Response document” available on the website and should be carefully reviewed to understand the valuation criteria and sensitivities. Based on the evaluation carried out by the independent expert, the independent members of the Supervisory Board have unanimously considered that the offer is in the interests of Euro Disney S.C.A., its employees and its shareholders, and recommended to the shareholders that they tender their shares into the offer.
  • The recapitalization of up to €1.5 billion is essential for the Euro Disney Group. However, simply proceeding with it would have required that shareholders either pay their pro-rata share of the up to €1.5 billion equity contribution or experience substantial dilution of their shareholding. This offer gives shareholders another option – the opportunity to sell their shares for a price that is 67% higher than the share price before the offer was announced.
  • Brokerage fees up to €100 refunded depending on transaction size (if your shares are tendered under the Semi-Centralized Procedure / see Tender offer document)

How to
tender your shares

A simple procedure to tender your shares to the offer:

  • Read the tender offer documentation
  • Contact your financial advisor before June 8th, 2017
  • For all questions call our toll-free number
    00 800 64 74 56 30

For more details, please refer to the offer document relative to the tender offer.

Contacts

Shareholders and Investors

00 800 64 74 56 30
(Toll-free from fixed-line phones and national operators)
09:30 to 17:30 Paris time from Monday to Friday (except public holidays)

eurodisney-opa@georgeson.com

Press

For all questions, please contact Brunswick Paris

TWDC@Brunswickgroup.com

+33 (0)1 53 96 83 83

THE BENEFITS OF THE SHAREHOLDERS’ CLUB

Shareholders’ Club benefits extended for 10 years by
Euro Disney S.C.A. for current members