Influence of TWDC on Euro Disney SCA?

[dagobert]

I've always wondered how much influence TWDC has on Euro Disney SCA. I know that TWDC owns approximately 40% of Euro Disney, but that's not the majority.

I ask because, TWDC holds 43% of Hongkong DL, so that's only 3% more, and there they are investing so much money at the moment. I do understand that HKDL needs an expansion, but why is DLRP so neglected by TWDC. I think that I've read somewhere that all decisions made by ED SCA have to be approved by TWDC. SO I think that Disney has a big influence at ED SCA.

ED SCA has a dept of nearly 3 billion Euros. Is it possible that TWDC repays this dept, so that ED SCA could start from the begining?

[Riebi]

I think Euro Disney is something you would call in germany "Kommanditgesellschaft auf Aktienbasis" (don´t know the english word). That means that you have two diffrent kind of participators. The limited partner (or " Kommanditist/Teilhafter") and the general partner ("Komplementär/Vollhafter").

TWDC is general partner and we other shareholders are the limited partners. That means that TWDC has the last word in many things, choose the CEO of ED SCA etc.

ED SCA is on the other hand a big debitor of TWDC. That means TWDC don´t just pay money (the´ve done that in the past) the have to get also much much money from ED SCA. So if TWDC would pays some dept of banks etc. that wouldn´t meant the start from the begining, the dept at TWDC would just be even bigger.

[dagobert]

Thanks for the answer. So that means that ED SCA has depts on two sides. The first one is TWDC and the other one are banks.

[phantom247]

TWDC has always had ultimate control on Eurodisney SCA some times they like to take a hands of aproach or putting a very firm hand down on nearly everything that is done in it's corporate name.   While other times they have a strong CEO that they appoint to the resort that does not like to be sidlined and is able to  know when it is good to take on TWDC and when to stay stum such as Karl Holz who accomplished many things by picking his battles with TWDC very carefully.

[andrewuk]

Yes, I thought Karl did very very well indeed, and his 'experiences that only Disney can provide' catchphrase showed that he knew what he was trying to do. (Don't hear words like that in relation to Toy Story Playland.)